Poland Economy Slows More than Expected in Q3

Poland’s economy expanded by 3.5% year-on-year in the third quarter of 2026, slowing from an upwardly revised 4.1% growth in the second quarter, preliminary estimates showed. The reading was below the expected 3.7% and marked the weakest expansion since the second quarter of 2025, likely due to softer household consumption, as higher fuel prices weighed on consumers’ purchasing power. On a seasonally adjusted quarterly basis, GDP rose 0.8%, following an upwardly revised 1.1% increase in the previous period.

The Polish economy expanded by 3.9% year-on-year in the second quarter of 2026, up from a 3.5% increase in the previous quarter and slightly above the preliminary estimate of 3.8% growth. Gross fixed capital formation advanced by 8.4%, up from 2.4% in Q1, driven by stronger investment activity, which rose to 16.1% from 15.1% a year earlier. Moreover, net exports contributed positively to GDP, as exports grew by 10.8%, while imports increased by a smaller 10.4%. Meanwhile, domestic demand grew by 3.5%, slightly down from 3.7%, weighed down by slower household consumption growth (2.8% vs 3.3% in Q1) and public spending (1.7% vs 6.0%). On a seasonally adjusted quarterly basis, the economy grew by 1.0% in Q2, following a 0.6% expansion in the previous period and slightly above estimates of 0.9%.

Poland’s economy expanded by 3.8% year-on-year in the second quarter of 2026, in line with market forecasts, following a 3.5% growth in the first quarter, according to preliminary estimates. The growth was likely supported by a temporary easing in energy price pressures toward the end of the quarter following the interim US-Iran deal. On a seasonally adjusted quarterly basis, GDP rose 0.9%, following a 0.6% increase in the previous period but falling short of market expectations for a 1.0% growth.