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Poland GDP Contracts As Initially Estimated In Q4

Poland's economy contracted in the fourth quarter due to the restrictions related to the Covid-19 pandemic, after a strong rebound in the third quarter, preliminary estimate from the statistical office showed on Friday.

Gross domestic product fell 0.7 percent sequentially, reversing the 7.9 percent expansion in the third quarter. The fourth quarter decline matched the estimate published on February 12.

However, on a yearly basis, the decline in the fourth quarter GDP was revised to 2.7 percent from 2.8 percent. This followed a 1.8 percent fall in the third quarter.

GDP, on an unadjusted basis, fell 2.8 percent annually, as initially estimated, in the fourth quarter after easing 1.5 percent in the preceding three months.

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