Economic growth in Q1 2019 slows to 4.6 percent y/y: stats office

Poland’s GDP slowed slightly in the first quarter of 2019 to 4.6 percent year on year, from 4.9 percent in the final quarter of 2018, according to the Statistics Poland estimate released on Wednesday.

The estimate was in line with the predictions of the Development Minister Jerzy Kwieciński last week, who also suggested that growth for the rest of the year would be only slightly less.

Yesterdays announcement of export growth of 4.4 percent in EUR terms seemed to indicate that so far, the slowdown in world’s trading markets has not had too seriously affected Polish goods.

Meanwhile, the final consumer inflation figures for April also announced on Wednesday confirmed the flash estimate of 2.2 percent inflation.

Food inflation of 3.6 percent, coupled with transport costs, which rose by 4.8percent, were the main causes of the overall rise in the price index. The rise in the price index compared to last month is very high at 1.1 percent.