Poland GDP Growth Confirmed at 1.0% in Q1


The Polish economy advanced 1.0 percent on quarter in the first three months of 2015 as expected, after a 0.8 percent growth in the previous quarter. Private consumption and fixed investment were the main drivers of growth while public spending slowed.

Total consumption expenditure in the first quarter of 2015 increased by 0.9 percent, as household consumption grew 1.1 percent (+0.8 percent in Q4). Public spending eased to a 0.3 percent expansion, after increasing 1.1 percent in Q4. 

While gross capital formation contracted 1.3 percent (+0.7 percent in the precedent quarter), fixed investment rose at a faster 2.9 percent, after expanding 2.4 percent in the previous quarter. 

Exports rose 2.1 percent (+2.2 percent in Q4) and imports increased at a slower 1.5 percent, following a 2.4 percent growth in Q4.

Year-on-year, the economy expanded 3.6 percent, up by 0.3 percentage point from the previous quarter, as fixed investment and private consumption expanded 11.4 percent (+8.6 percent in Q4) and 3.1 percent (+3.0 percent in Q4) respectively. Domestic demand slowed to a 2.6 percent growth (against 5.0 percent in Q4) while total consumption rose 3.1 percent against a 3.8 percent expansion in the precedent period.

Central Statistical Office of Poland | Joana Ferreira | joana.ferreira@tradingeconomics.com
5/29/2015 9:57:51 AM