Polish GDP increased by 2% in the 1st quarter of 2020

Gross domestic product (GDP) in the 1st quarter of 2020 was higher by 2.0% year-on-year comparison against 4.8% in the correspording quarter of 2019, latest Central Statistical Office (GUS) data shows.

In the 1st quarter of 2020 seasonally adjusted gross domestic product (GDP) (constant prices, reference year 2010) was lower by 0.4% than in the previous quarter and 1.7% higher than in the 1 st quarter of the previous year.

In the 1st quarter of 2020 the economic growth came mainly from domestic uses which growth was 1.7% compared to the previous year. It was higher than in the 4th quarter of 2019 (the growth 1.3%).

It resulted from the increase in gross capital formation by 0.7% (against the decrease by -3,6% in the 4th quarter of 2019).

Final consumption expenditure increased by 1.8% and was lower than recorded in the 4th quarter of 2019 (the increase by 3.2%). Consumption
expenditure in the households sector rose by 1.2% and was lower than in the 4th quarter of 2019 (the growth of 3.3%).

The growth rate of gross fixed capital formation was lower than in the 4th quarter of 2019 and amounted to 0.9% (against 6.1%).

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