Poland's GDP up because private consumption accelerates
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Some economists, noting an improvement in consumer demand and a return to positive dynamics from the fourth quarter, also point out that consumption will be the main driver of economic growth acceleration in 2024, which means a return to an inflationary structure of GDP.
"We already have almost a complete set of September data from the real sector for September (on Monday, GUS will publish data on construction output), based on which a picture of the economy in the third quarter of 2023 is emerging. Based on the available information, we estimate that GDP grew by about 0.4 percent y/y, after a decline in the first half of 2023,” Adam Antoniak, senior economist at the ING BSK Macroeconomic Analysis Office, said.
