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Polish economy slows down, says central statistical office

TVN24 | TVN24 News in English

Autor:
gf
Źródło:
TVN24 News in English, stat.gov.pl
Deputy PM Jarosław Gowin talks about Polish economy under lockdownTVN24
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TVN24Deputy PM Jarosław Gowin talks about Polish economy under lockdown

Seasonally unadjusted gross domestic product (GDP) in the 1st quarter of 2021 was lower by 0.9% year-on-year comparison against the growth of 2.0% in the corresponding quarter of 2020 (constant average prices of the previous year) - the Central Statistical Office said on Monday.

"In the 1st quarter of 2021 seasonally adjusted gross domestic product (GDP) (constant prices, reference year 2015) was higher by 1.1% than in the previous quarter and 1.4% lower than in the 1st quarter of the previous year" - the Central Statistical Office (GUS) informed in a statement on Monday.

"Seasonally unadjusted GDP (constant average prices of the previous year) was lower by 0.9% than in the corresponding quarter of the previous year" - the report reads.

According to GUS, "this was caused by a decline of growth rate of balance in external trade and increase of domestic uses".

"Improvement of domestic uses was up 1.0% compared to a year earlier (in the 4th quarter of 2020 a decrease of domestic uses of 2.9% was recorded)" - we read.

GUS explains that it was due to "an increase in gross capital formation of 3.4% (against a decrease of 10.4% in the 4th quarter of 2020) and an increase of final consumption expenditure of 0.6% (against a decrease of 0.2% in the 4th quarter of 2020)".

"Consumption expenditure in the households sector was higher by 0.2% (against a decrease of 3.2% in the 4th quarter of 2020). Gross fixed capital formation went up by 1.3% (against a decrease of 15.4% in the 4th quarter of 2020)" - the report states.

Autor:gf

Źródło: TVN24 News in English, stat.gov.pl

Źródło zdjęcia głównego: Shutterstock

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