The Polish economy expanded at a slower pace in the first quarter, data released by the country's statistical office showed Thursday.
Gross domestic product (GDP) grew 3.5 percent year-on-year in the first quarter, notably slower than the 4.3 percent growth recorded in the fourth quarter, which was revised down from 4.4 percent. The latest growth rate matched economists' expectations.
Private consumption expenditure advanced 2.1 percent year-on-year during the three-month period, while public consumption expenditure decreased 1.3 percent. Gross fixed capital formation was higher by 6.7 percent compared to the corresponding quarter a year earlier, data showed.
Sequentially, GDP expanded a seasonally adjusted 0.8 percent during the three-month period, slower than the 1 percent growth seen in the final three months of last year.
by RTT Staff Writer
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