Polish economy shrinks 0.5% in Q2 2023: flash estimate

The Polish economy contracted 0.5 percent in the second quarter of this year, the country’s statistics office said on Wednesday in a flash estimate.

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Economists polled by state news agency PAP had expected a drop of 0.2 percent, data showed.

According to the flash estimate, gross domestic product (#GDP) in volume terms seasonally unadjusted was lower by 0.5% in the 2nd quarter of 2023 (YoY).https://t.co/bbSDtovasI#StatisticsPoland #statistics #economy #NationalAccounts #FlashEstimate pic.twitter.com/Ycc7Ifstk1

— Statistics Poland (@StatPoland) August 16, 2023

Poland's gross domestic product shrank 0.3 percent in the first quarter of this year, after expanding by 2 percent in the final quarter of 2022, according to the state-run Statistics Poland (GUS) agency.

The Polish statistics office is expected to report full second-quarter data on August 31.

Wzrost gospodarczy w II kwartale. GUS podał wstępne dane https://t.co/eGGJEElZFH

— Gospodarka - Polskie Radio (@Gospodarka_PRSA) August 16, 2023

In 2022 as a whole, Poland's gross domestic product grew 5.1 percent, according to a revised estimate released by Statistics Poland in April.

(gs)

Source: PAP, IAR