GDP growth at 0.6 pct over 2023 says economy institute

Poland's GDP growth should average 0.6 percent in 2023, the Polish Economic Institute (PIE), a government-affiliated economic think-tank, reported on Wednesday.

In a commentary to GDP growth data provided by the Central Statistical Office (GUS), PIE wrote that the growth rate is expected to pick up in the second half of the year, mainly owing to increases in investment and household spending.

In an estimate published on Tuesday, GUS put Polish GDP growth in Q1 of this year down 0.2 percent year on year, and up 3.9 percent quarter on quarter.

GUS wrote that the GDP drop in Q1 was the result of falling consumption, with household expenditure recording a 2-percent fall. GUS noted, however, that investment in the same period has probably recorded growth.

According to PIE, economic activity will improve in the coming quarters, with Poland achieving a stable economic growth rate in the second half of the year.