Polish industrial output and retail sales data come in strong in January, GDP growth likely to be strong

Poland’s official statistics office released another set of monthly macroeconomic data, which indicate towards very robust performance of the Polish economy in the first quarter of this year. While the Polish industrial output grew 8 percent year-on-year, the real retail sales growth accelerated to 7.7 percent year-on-year in January.

However, the unbelievable growth was seen in construction that rose 34.7 percent year-on-year and 8.8 percent on a sequential basis. Robust rebound in the construction sector shows that public and private investments have continued to expand rapidly in this quarter. Taking together with very solid retail sales it signifies that the domestic demand growth continues to be impressive, which would suggest solid GDP growth, noted KBC Market Research in a report.

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