The Polish economy exhibited slightly stronger growth than initially estimated for the first quarter, as reported by Statistics Poland on Monday.
Gross domestic product (GDP) increased by 0.5 percent sequentially in the first quarter, following a stagnation in the final quarter of 2023. This marked a revision from the previously estimated 0.1 percent decline.
Initial estimates had pegged the first-quarter growth rate at 0.4 percent.
On the expenditure front, household consumption rose by 2.1 percent over the quarter, while public consumption expenditure climbed by 1.9 percent. Conversely, gross fixed capital formation saw a decline of 3.0 percent.
Year-over-year, GDP growth slowed to 1.3 percent in the March quarter compared to 1.7 percent in the December quarter, as previously estimated.
The data also indicated that the seasonally unadjusted GDP rose at an annual rate of 2.0 percent in the first quarter, up from 1.0 percent growth in the prior three-month period. This figure represented an upward revision from the initial estimate of 1.9 percent.
