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

Gross domestic product fell 0.7 percent sequentially, in contrast to a 7.9 percent rise in the third quarter. However, this was slower than the expected drop of 1 percent.

On a yearly basis, the economy contracted 2.8 percent, bigger than the 1.8 percent fall a quarter ago. Revised data is due on February 26.

The material has been provided by InstaForex Company – www.instaforex.com

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