Poland GDP Confirmed at 1.1% in Q1

The Polish economy advanced a seasonally adjusted 1.1 percent quarter-on-quarter in the first three months of 2014, unchanged from the flash estimate. It is the highest growth rate in eleven quarters, driven by construction and investment.

On a quarter-on-quarter seasonally adjusted basis, construction grew the most (4.9 percent), followed by industry (2.9 percent). Meanwhile, financial and insurance activities contracted 2.1 percent.

On the expenditure side, government consumption shrank slightly by 0.2 percent while gross fixed capital formation surged 3.8 percent. Exports rose 2.4 percent but imports increased at a faster 5.8 percent.

Year-on-year, the economy grew a revised 3.4 percent in Q1, up from a flash estimate of 3.3 percent. It is the highest growth since the first quarter of 2012, driven by exports and gross fixed capital formation. 

Poland GDP Confirmed at 1.1% in Q1

Joana Taborda | joana.taborda@tradingeconomics.com
5/30/2014 11:09:59 AM