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Quick Reactions Of Polish Analysts To Final Q1 GDP Data

POLAND

Poland's final Q1 GDP has been revised to -0.3% Y/Y from the flash reading of -0.2%, data from the local statistics office showed.

  • Pekao note that the downward revision "doesn't change much." They point to a weak outturn for private consumption, decent investments, stellar net exports and poor inventories. Pekao maintain their full 2023 GDP forecast at +0.9% Y/Y.
  • The Polish Economic Institute expect economic activity to recover in Q2 alongside the purchasing power of consumers. They expect growth to average at +0.7% Y/Y this year
  • mBank call the correction to the flash reading "insignificant" and outline a similar overview of GDP composition as their colleagues.
  • ING say that net exports will be the main engine of growth this year, but they expect that GDP will rise by a modest ~1% Y/Y.
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