In the second quarter, GDP increased 2.4% over the same quarter last year, which was below both the 3.5% expansion recorded in the first quarter and market expectations of a 2.9% increase. Compared to the previous quarter, economic growth increased a seasonally adjusted 0.4% (Q1: +0.6% quarter-on-quarter). The deceleration in the second quarter mainly reflected a slowdown in gross fixed investment as well as a drop in inventories. Gross fixed investment decelerated from a 6.7% increase in Q1 to a 1.9% rise in the second quarter. In addition, private consumption growth slowed to a 1.5% expansion in the second quarter (Q1: +2.1% year-on-year). Government consumption, on the other hand, fell a slim 0.1% in the second quarter, improving over the 1.3% contraction recorded in the first. Exports expanded a healthy 3.6% in the second quarter (Q1: +4.8% yoy), while imports contracted 2.0%, contrasting the 3.2% rise seen in the first quarter. As a result, the external sector's net contribution to overall economic growth increased from 0.7 percentage points in the first quarter to 2.6 percentage points in the second.
Economic growth continues to slow in Q2
August 30, 2012
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Poland Economic News
October 25, 2016
The manufacturing sector business climate index decreased from 3.3 points in September to 1.0 point in October, according to the Central Statistical Office’s Business Tendency Survey (GUS-BTS).
October 25, 2016
In September, retail sales rose 4.8% over the same month last year, which was below August’s over two-year high of a 5.6% increase.
October 19, 2016
In September, industrial production expanded 3.2% over the same month last year, which was notably below the 7.5% expansion recorded in August.
October 12, 2016
According to the Central Statistical Office (GUS), consumer prices recorded flat growth over the previous month in September, which followed the 0.2% decrease recorded in August.
October 5, 2016
As anticipated by market analysts, the National Bank of Poland (NBP) decided to keep the reference rate at the record low of 1.50% at its 4–5 October monetary policy meeting.