Poland GDP Expands 0.2% in 2023

Analysis

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Polish economic growth eased markedly during the year 2023, a flash estimate from the Warsaw-based Central Statistical Office (GUS) on Wednesday show.

Gross domestic product (GDP) rose 0.2% in 2023, much slower than the 5.3% growth seen in 2022.

Data showed that gross value added in the national economy advanced 1%. Within this, construction output increased by 3.4%, while the industrial sector showed a contraction of 0.7%.

On the expenditure side, household consumption declined 0.8% compared to a 2.9% rise last year. In contrast, gross capital formation grew at a faster pace of 1.8%.

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