GDP grows by 3.3% in Q1 - flash estimate
22:50
Poland’s gross domestic product grew by 3.3 percent year-on-year in the first quarter of 2014, according to a flash estimate released by the Central Statistical Office (GUS) on Thursday.
Economists surveyed by the Polish Press Agency (PAP) had expected the figure to be 3.1 percent y/y.
Seasonally adjusted GDP growth in Q1 2014 was 3.5 percent y/y and 1.1 percent compared to the previous quarter, the statistics office also said.
Tomasz Kaczor, economist at Bank Gospodarstwa Krajowego told PAP that the data is slightly better than expectations, but not a big surprise. “It fits into the scenario that the Monetary Policy Council painted in its last projection. It is a kind of balance for yesterday’s low inflation figures.”
GUS will publish a revised estimate of Q1 GDP growth on May 30.
