Poland's GDP Expands 1.1% In Q1

Poland's economy advanced 1.1 percent on quarter in the first quarter of 2017, higher than preliminary estimates of 1 percent and following 1.7 percent expansion in the previous period.
Central Statistical Office of Poland | Yekaterina Guchshina | yekaterina@tradingeconomics.com 5/31/2017 12:36:55 PM
Household spending accelerated (1.4 percent vs 1.2 percent in Q4 of 2016) and investments rebounded (0.3 percent vs -0.2 percent). In contrast, public consumption stalled (vs 0.2 percent).

The net trade contributed less positively, as exports grew at a slower 1.8 percent (from 3.1 percent in Q4 of 2016) while imports rose 3.8 percent (from 1.3 percent). 

Year-on-year, the GDP expanded 4 percent, compared to 2.5 percent growth in the third quarter of 2016, matching preliminary estimates. It was the strongest growth since the fourth quarter of 2015, mainly driven by consumer spending (4.7 percent from 4.5 percent in Q4 of 2016) and government spending (1 percent from -0.2 percent). Also, investments contracted less (-0.4 percent from -9.8 percent). Net external demand contributed less positively, as exports rose 8.3 percent (from 9.3 percent) and imports went up at a faster 8.7 percent (from 8.2 percent).