Poland GDP contracts in Q4 2020

Figures

Poland's economy contracted in the fourth quarter due to the restrictions related to the COVID-19 pandemic, after a strong rebound in the third quarter, figures from the Warsaw-based Central Statistical Office (GUS) showed on Friday.

Gross domestic product (GDP) fell 0.7% sequentially in the Q4, reversing the 7.9% expansion in the third quarter.

The fourth quarter decline matched the estimate published on February 12. However, on a yearly basis, the decline in the fourth quarter GDP was revised to 2.7% from 2.8%. This followed a 1.8% fall in the third quarter. On an unadjusted basis, GDP fell 2.8% annually in the Q4, as initially estimated, after easing 1.5% in the preceding three months.

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