Poland’s GDP growth at the forefront of the world. The largest drops in Italy and France

Poland's GDP growth at the forefront of the world.  The largest drops in Italy and France

In addition to data from Eurostat and European countries, it began publishing global data. The latest information indicates that we have looked decent in the first quarter of the world. We rank seventh in terms of GDP growth, behind the five countries in our region and Ireland. Only in three European countries did employment increase more rapidly.

  • The first quarter of the Polish economy grew to four forts with one plus. According to a survey by Eurostat, GDP growth is the seventh highest
  • Italy and France performed the worst
  • In the world rankings we are following Switzerland. We could not reach more speed due to the slow exchange rate

March is just the beginning of epidemic-related controls in Poland and many European countries, so economic data for the first quarter does not show the extent of the damage. Anyway The Polish economy grew 1.7 percent. According to Eurostat data, year after year (periodically adjusted data), this has become one of the best results in the world.

The seventh best result to be exact. According to the latest update on Eurostat data for the first quarter, Only six countries surpassed us, Serbia (+ 4.8% y / y), Ireland (+ 4.5%). South Korea and Australia lagged behind us in terms of growth rate.

During this time, the euro fell by 2.6%. rdr, z Italy (-5.4% y / y), France (-5% y / y). The German economy contracted by 2.3%. Every year.

GDP growth in the first quarter of 2020 compared to the fourth quarter of 2019 (Percentage change based on periodically adjusted data)

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The United States recorded a slight increase (+ 0.3% y / y), followed by a similar decrease (-1.5 to -1.9% y / y) in Switzerland and Great Britain-Brittany and Japan.

Switzerland is still a long way off

Switzerland is an economy that we have been trying to catch up with since Sweden was eliminated in the first quarter of 2018. Of course, overall, not per capita.

Theoretically in the first quarter of 2020 we had a high economic pace, but it did it all at once Our currency has depreciated. Against the euro, at least 7.1 percent. Therefore, despite the theoretical increase in the value of GDP produced, it still differs from Switzerland by the same amount in the common currency.

Calculated using periodically adjusted data, GDP in the first quarter was 5 135.8 billion and Swiss GDP 160 160.6 billion.. Compared to the previous quarter, we offset 96 million euros for Helvetia. However, we have reduced the distance with the Netherlands, which surpassed us by 68 billion euros, 2.8 billion euros less than in the previous quarter. However, Sweden approached us with 157 million euros.

The USA and China are ahead

First in the rankings – not suitable for seasonality (China has no other data) – Are Still the USA and China. In the first quarter, US GDP was 4.8 trillion euros and China 2.7 trillion euros. Fun way U.S. gains increased by 671 billion euros, or up 14%, in the fourth quarter compared to the Middle Kingdom. US GDP.

Japan is third, Germany fourth and India fifth. The second is more than a year ahead of their former colonizer, Great Britain, whose gains in the first quarter rose significantly to 26 billion euros.

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Poland is ranked 19th. However, it does not contain the latest data from Russia, which is a quarter of 2.8 times ahead of us, so our position in the world economy can be defined as the “Top 20”.

It wasn’t bad at work

Using GDP data, Eurostat showed what the main problem was in the context of the crisis. Its collapse is most feared by economists because it risks perpetuating a crisis.

Yes, Work in Poland According to Eurostat, it rose 1.1 percent in the first quarter. Every year. Two countries: Belgium and Switzerland achieved the same dynamism. Of the 29 countries, only five are the best in EuropeContributors of relevant data.

Job evolution in Q1 2020 compared to Q4 2019 (% Based on periodically adjusted data)

Photo: Eurostat

Small Malta and Cyprus are leading in job growth. In the larger countries, employment increased faster than in Poland, only in Ireland and Great Britain.

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