Poland’s economy expanded 3.2% year-on-year in the fourth quarter of 2019, revised from a preliminary reading of 3.1% and easing from a 3.9% expansion in the previous period, the Warsaw-based Central Statistical Office (GUS) says. It was the weakest growth rate since the last quarter of 2016.
Both household consumption (3.3% vs 3.9% in Q3) and public spending (3.1% vs 4.7%) advanced at a softer pace. On the other hand, fixed investment increased 4.9%, faster than a 4.7% growth in the prior period.
Net external demand contributed positively to the gross domestic product, as exports rose 1.4% in Q4, while imports fell 0.7%. On a seasonally adjusted quarterly basis, the economy advanced 0.3%, following a 1.2% expansion in the third quarter of 2019.
Considering full 2019 data, Poland’s GDP grew 4%, slowing from a 5.1% expansion in 2018, GUS said on February 28.