The Polish economy expanded by 3.5% year-on-year in the first quarter of 2026, slightly above preliminary estimates but slowing from an over three-year high of 4.1% in the previous quarter.
Growth moderated in domestic demand (3.5% vs 4.4% in Q4 2025), household consumption (2.0% vs 2.1%), and public spending (1.2% vs 1.7%).
Fixed investment (0.3% vs 1.5%) and capital formation (0.3% vs 0.6%) also lost momentum, while inventories were unchanged after a 0.9 percentage point drag in the previous quarter.
Meanwhile, net exports shifted to a neutral contribution, compared with a -0.3 percentage point drag in the previous quarter.
On a seasonally adjusted quarterly basis, the economy grew 0.6% in the first quarter, slightly above preliminary estimates but easing from 1.0% in the previous period and marking the weakest expansion since the contraction recorded in the third quarter of 2024.