Poland's gross domestic product shrank 0.9 percent from a year earlier in the first quarter of 2021, following a 2.7 percent contraction in the previous three-month period and compared with an earlier estimate of a 1.2 percent fall. It was the fourth consecutive quarter of economic downturn, although at the softest pace in the current sequence. Household consumption rose 0.2 percent, after decreasing 3.2 percent in Q4 and gross fixed capital formation increased 1.3 percent, following a 15.4 percent slump in the previous period. Changes in inventories had a positive contribution (+0.3 percentage points vs +1.3 percentage points in Q4), while a negative impact of the net exports to the economic growth was noted ( -1.9 percentage points vs +0.1 percentage points in Q4). On a seasonally adjusted quarterly basis, the GDP rose by 1.1 percent, following a 0.5 percent drop in the previous period and compared with a preliminary reading of a 0.9 percent growth. source: Central Statistical Office of Poland (GUS)
GDP Annual Growth Rate in Poland averaged 3.89 percent from 1995 until 2021, reaching an all time high of 8.10 percent in the fourth quarter of 1996 and a record low of -8.30 percent in the second quarter of 2020. This page provides - Poland GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Poland GDP Annual Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on August of 2021.
GDP Annual Growth Rate in Poland is expected to be 8.30 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Poland to stand at 3.80 in 12 months time. In the long-term, the Poland GDP Annual Growth Rate is projected to trend around 3.70 percent in 2022 and 3.50 percent in 2023, according to our econometric models.