Poland's GDP to grow by 0.5 pct in Q1
Polish economic growth will slow to 0.5 percent in Q1 2023, a government-sponsored think-tank has forecast.
Poland's Gross Domestic Product (GDP) increased by 4.9 percent year on year in 2022, the Central Statistical Office (GUS) has reported. This year, however, economists expect the growth will decline significantly.
"Owing to a mild winter, we are not observing a reduction in industrial activity," the Polish Economic Institute (PIE) wrote on Tuesday. "As a result, the Polish economy will likely avoid a recession.
"In the first quarter the growth will be around 0.5 percent," PIE added.
According to the think-tank, the slowdown in industry has turned out to be milder than expected.
However, slow growth of consumer spending will weigh on the GDP, PIE said.