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Macroeconomic outlook report: Poland

First quarter of 2019

During the first quarter of the year, the Polish economy recorded a year-over-year GDP growth rate of 4.69%, a slowdown of 0.21 p.p. compared to the previous period, due to lower growth in domestic demand, to 4.16%. In the labor market, the unemployment rate stood at 3.90% in the first quarter of 2019, up by 0.10 p.p. from 4Q18. On the other hand, the year-over-year growth rate of employment decreased by 0.20 p.p. to 2.40%. The zloty appreciated against the euro in the first quarter of 2019, with the exchange rate at PLN 4.30/€, PLN 0.01/€ lower than in 4Q18.

Macroeconomic overview

  • During the first quarter of 2019, Poland's GDP slowed by 0.21 p.p. its year-over-year growth in comparison with 4Q18 to 4.69%.
  • The behavior of GDP was explained by the performance of domestic demand, after reducing its growth by 0.64 p.p. over the last quarter to 4.16%.
  • In the labor market, the unemployment rate stood at 3.90% in the first quarter of 2019, 0.10 p.p. higher than in 4Q18. The year-over-year growth rate of employment slowed by 0.20 p.p. to 2.40%.
  • During 1Q19, the zloty appreciated against the euro with the average exchange rate at 4.30 PLN/€, PLN 0.01/€ lower than in 4Q18.
  • During this quarter, inflation slowed by 0.30 p.p. to a year-over-year growth rate of 1.20% in the first quarter of the year.

 

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© GMS Management Solutions, S.L., 2019. All rights reserved. The information contained on this publication is of a general nature and does not constitute a professional opinion or an advisory service. The data used in this publication come from public sources. GMS Management Solutions, SL assumes no liability for the veracity or accuracy of such data.