According to the second estimate, both unadjusted and seasonally and calendar-adjusted GDP growth rates accelerated to 1.7% in the first quarter of 2026. Against the previous quarter, the GDP was up 0.8%.
Private consumption accelerated markedly, with household consumption expenditures expanding by 5.5%. Due to this, and the extreme growth contribution from the changes in inventories, final domestic use grew by 6.6%. At the same time, the negative contribution by net export to GDP growth reached a level not seen in many years. On the production side, the main driver of the acceleration in GDP growth was the increase in the growth rate of services to above 2%.
GDP may grow by 2% in 2026, assuming a favorable scenario.
