17:16 29 July 2024
Polish economy growing, but slower than expected
Economists at Credit Agricole Bank Polska have revised their GDP growth forecasts for Poland. For 2024, they now expect GDP growth of 2.3% y/y, down from the previously forecasted 2.8%. For 2025, the forecast is 3.5%, reduced from 4.6%.
The revision is due to disappointing recent domestic data and a slower-than-expected economic recovery. The anticipated rise in investment is now expected to be smaller, influenced by decreased business investment and a worsening investment climate. Consumer optimism is also waning, with a growing tendency to save rather than spend. The main driver of growth remains consumption, bolstered by rising real wages, but is tempered by slower nominal wage growth and high inflation.
