Polish economy growing, but slower than expected
17:16
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.
