Polish economy grew 1% in Q4 2023: stats office

The Polish economy grew 1 percent in the final quarter of last year, the country’s statistics office said on Thursday in a preliminary estimate.

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Image by Gerd Altmann from Pixabay

The reading was in line with a flash estimate released by the Statistics Poland (GUS) office earlier this month.

Wg wstępnego szacunku produkt krajowy brutto (#PKB) niewyrównany sezonowo w IV kwartale 2023 r. wzrósł realnie o 1,0% r/r.https://t.co/FCVGjUQ0PP#GUS #statystyki #RachunkiNarodowe #gospodarka pic.twitter.com/Q4VZAArQRY

— GUS (@GUS_STAT) February 29, 2024

Investment increased by 8.7 percent, while private consumption dropped by 0.1 percent in Poland in the fourth quarter of 2023, Statistics Poland reported.

Domestic demand decreased by 2.3 percent, it said.

Poland's gross domestic product expanded by 0.5 percent in the third quarter of last year, after shrinking 0.6 percent in the second quarter and contracting 0.3 percent in the first quarter, according to the state-run Statistics Poland (GUS) agency.

Jaki był wzrost PKB Polski w IV kwartale 2023? GUS podał oficjalne dane https://t.co/AUeKGxJKGQ

— Gospodarka - Polskie Radio (@Gospodarka_PRSA) February 29, 2024

In 2023 as a whole, Poland's gross domestic product grew 0.2 percent, according to a preliminary estimate released by Statistics Poland at the end of last month.

Poland's President Andrzej Duda in late January signed into law the country’s budget for 2024, which expects the economy to grow 3 percent this year.

(gs)

Source: PAP, IAR