Poland’s GDP in the second quarter of 2022 decreased by 2.3%. – this is the worst result in the entire European Union. The latest economic data worried investors. The shares of almost all companies fell, only CD Projekt, Pepco and LPP recorded an increase.
In the second quarter of 2022, seasonally adjusted GDP in Poland decreased by 2.3% in real terms. compared to the first quarter. GUS data clearly indicate that in the second quarter of this year. a serious slowdown began in the Polish economy.
Eurostat: Poland with the largest decline in GDP
In turn, Eurostat data tell us that Poland experienced the largest quarterly decline in GDP in the entire European Union. Latvia is ahead of Poland (GDP drop by 1.4%) and Lithuania (GDP drop by 0.4%). In turn, the first three positions in the ranking are occupied by the Netherlands (GDP growth by 2.6%), Romania (GDP growth by 2.1%) and Sweden (GDP growth by 1.4%).
On the other hand, among the countries of the Visegrad Group, Hungary enjoys the highest quarterly growth, which recorded a GDP growth of 1.1%. In the case of other countries in this group – Slovakia and the Czech Republic – there was a slight increase in GDP, by 0.4%, respectively. and 0.2 percent “The influence of the war is stronger in Poland than in more distant countries” – experts from PKO Bank Polski point out.
Investors concerned – stocks down
Data on Poland’s GDP clearly worried investors. WIG20 lost 3 percent at the close, deepening the decline to 25.76 percent. during the year. The strongest decline in the WIG20 was recorded by Santander Bank Polska – it lost 5.47 percent. The shares of PKO PB (dropped 5.05%) of mBank (dropped 4.73%), Allegro (dropped 4.33%) and LPP (dropped 4.26%) fell sharply.
Only CD Projekt, Pepco and Cyfrowy Polsat shares were saved from declines. The first company recorded an increase of 1.03 percent. In the case of the other two, we are talking about increases of 0.42 percent, respectively. and 0.10 percent.