FX.co ★ Poland Q1 GDP Growth Slows From Over 3-Year High

Poland’s economy grew by 3.5% year-on-year in the first quarter of 2026, slightly above the preliminary estimate but down from the over three-year high of 4.1% recorded in the previous quarter. The pace of expansion eased across key components: domestic demand slowed to 3.5% from 4.4% in Q4 2025, household consumption to 2.0% from 2.1%, and public spending to 1.2% from 1.7%. Fixed investment growth weakened markedly (0.3% vs 1.5%), as did overall capital formation (0.3% vs 0.6%). Inventories were unchanged, following a 0.9% decline in the prior quarter. Net exports were neutral for growth, after subtracting 0.3 percentage points in Q4 2025. On a seasonally adjusted quarterly basis, GDP increased by 0.6% in Q1 2026, marginally above the initial estimate but down from 1.0% in the previous quarter, marking the weakest quarterly expansion since the contraction in the third quarter of 2024.