Consumption in Poland
Poland - Consumption
Solid momentum maintained in Q1 2019
Poland’s economy grew 4.6% year-on-year in unadjusted terms in the first quarter of this year, according to a preliminary estimate released by the Statistical Office (GUS) on 15 May. The first-quarter outturn beat analysts’ expectations, although still decelerated from the previous quarter (Q4 2018: +4.9% year-on-year). Ahead of comprehensive first-quarter national accounts on 31 May, it appears that the unexpectedly strong GDP reading was thanks to stronger-than-expected growth in industrial production, which was seemingly unaffected by a weaker industrial sector in Germany and partly offset softer yet still solid household spending.
On a quarter-on-quarter basis, growth jumped to 1.4% in seasonally-adjusted terms from Q4’s revised +0.5% qoq s.a. expansion (previously reported: +0.4% quarter-on-quarter s.a.).
Economic activity will likely decelerate this year amid a less supportive external environment and a diminished contribution to growth from EU-driven fixed investment. Nevertheless, sizable wage and job gains should sustain consumer spending and GDP. Moreover, the government’s fiscal measures, which are set to come into effect in H2, represent a key upside risk to growth.
Met the why particular Consensus Forecast panelists expect growth to clock in at 3.8% in 2019, which is unchanged from last month’s forecast. For 2020, our panel sees growth moderating to 3.3%.
Poland - Consumption Data
|Consumption (annual variation in %)||0.3||2.6||3.0||3.9||4.8|
5 years of economic forecasts for more than 30 economic indicators.
|Bond Yield||2.85||-0.30 %||May 13|
|Exchange Rate||3.84||-0.53 %||May 13|
|Stock Market||56,389||-1.13 %||May 13|
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May 23, 2019
Nominal retail sales skyrocketed 13.6% year-on-year in April, pulverizing March’s 3.1% rise.
May 22, 2019
Industrial output jumped 9.2% year-on-year in April, according to the Central Statistical Office (GUS).
May 15, 2019
According to data released by the Central Statistical Office (GUS), consumer prices jumped 1.1% month-on-month in April, following March’s 0.3% rise.
May 15, 2019
Poland’s economy grew 4.6% year-on-year in unadjusted terms in the first quarter of this year, according to a preliminary estimate released by the Statistical Office (GUS) on 15 May.
May 15, 2019
As widely expected by market analysts, the National Bank of Poland (NBP) kept the reference rate unchanged at a record-low of 1.50% at its 14–15 May monetary policy meeting.