GUS: Polish GDP goes up again. Data much better than predicted

The Central Statistical Office published data on economic growth in Poland in the first quarter of 2022. In other words the Polish GDP goes up once again.

Gross Domestic Product (constant average prices of the previous year, not seasonally adjusted) increased by 8.5%. on an annual basis in the first quarter of 2022 compared to 7.6% y / y growth (revised) in the previous quarter, the Central Statistical Office reported in a quick estimate of this data.

“Seasonally unadjusted GDP (constant average prices of the previous year) increased in real terms by 8.5%. compared to the same period of the previous year ”- we read in the release of the Central Statistical Office.

Growth greater than experts’ predictions

The market consensus for the first quarter was 8%. seasonally unadjusted growth. “In the first quarter of 2022, seasonally adjusted GDP (in constant prices for the reference year 2015) increased by 2.4% in real terms. compared to the previous quarter and was higher by 9.1 percent than in the previous year ”. The report says

The Central Statistical Office emphasised that the data are preliminary and may be subject to revision, in line with the revision policy applied in quarterly national accounts, at the time of the first regular GDP estimate for Q1 2022, which will be published on May 31, 2022. too.

EC lowers forecasts for Polish GDP

On May 16, the European Commission corrected its forecasts of Poland’s inflation and economic growth. According to the commission, the Gross Domestic Product in 2022 in Poland will not be 5.5 percent, as originally assumed, but only 3.7 percent. The projections for 2023 have also been lowered from 4.2 to 3 percent. forecast for this year’s HICP inflation in Poland to 11.6 percent. against 6.8 percent expected in February.

Source: Wprost


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