WARSAW (FFN) – The Polish economy saw a significant acceleration in growth during the second quarter, nearly doubling the pace from the previous period. This was reported on Thursday by the Polish Central Statistical Office (GUS), which released revised data confirming the preliminary estimate from mid-August. The development was covered by agencies PAP and RTTNews.
According to GUS, Poland’s Gross Domestic Product (GDP) grew by 1.5% in the second quarter compared to the previous quarter, nearly doubling the 0.8% growth seen in the first three months of the year. This confirms the preliminary estimate released on August 14.
The economic growth was significantly supported by domestic consumption, which increased by 0.7%. An even greater boost came from the gross fixed capital formation, which rose by 2.5%.
On a year-over-year basis, Poland’s GDP growth increased by 3.2% from April to the end of June, up from 2% in the first quarter of the year. GUS also confirmed the preliminary estimate in this case, noting that the reported growth rate is the fastest since the third quarter of 2022.
| Indicator | Q1 2024 | Q2 2024 |
|---|---|---|
| Quarter-over-Quarter GDP Growth (%) | 0.8% | 1.5% |
| Year-over-Year GDP Growth (%) | 2.0% | 3.2% |
| Domestic Consumption (%) | – | 0.7% |
| Gross Fixed Capital Formation (%) | – | 2.5% |
Key Words: Poland, economy, GDP, economic growth, GUS, domestic consumption, fixed capital formation.
