Poland's gross domestic product shrank by 1.5 percent year-on-year in the third quarter of 2020, compared with an initial estimate of a 1.6 percent contraction and following a historic slump of 8.4 percent in the previous three-month period. Household consumption rose 0.4 percent, rebounding from a 10.8 percent drop in the second quarter, while fixed investment tumbled 9.0 percent, compared to a 10.7 percent slump. Changes in inventories had also a negative contribution (-2.3 percentage points vs -2.0 percentage points in Q2), while a positive impact of the net exports to the economic growth was noted (+1.7 percentage points vs +1.1 percentage points in Q2). On a quarterly basis, Poland's GDP grew by 7.9 percent, partially recovering from a 9.0 percent contraction in the previous period. source: Central Statistical Office of Poland (GUS)
GDP Annual Growth Rate in Poland averaged 4.02 percent from 1995 until 2020, reaching an all time high of 8.10 percent in the fourth quarter of 1996 and a record low of -8.40 percent in the second quarter of 2020. This page provides - Poland GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Poland GDP Annual Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on December of 2020.
GDP Annual Growth Rate in Poland is expected to be -2.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Poland to stand at 4.10 in 12 months time. In the long-term, the Poland GDP Annual Growth Rate is projected to trend around 3.70 percent in 2021 and 2.50 percent in 2022, according to our econometric models.