Poland GDP


Economic growth slows at the beginning of 2012

In the first quarter, GDP increased 3.5% over the same quarter last year, which was below the 4.3% expansion recorded in the fourth quarter but came in just in line with last monthmonth's Consensus Forecast. Compared to the previous quarter, economic growth increased a seasonally adjusted 0.8% (Q4 2011: +1.0% quarter-on-quarter).

The deceleration in the first quarter mainly reflected a slowdown in gross fixed investment as well as a moderation in external demand. Inventories, on the other hand, contributed positively to GDP growth in the first quarter.

Domestic demand increased 2.7% in the first quarter, which was below the 3.2% increase recorded in the fourth quarter. Private consumption growth remained steady at 2.1% in the first quarter, while gross fixed investment decelerated from a 9.7% increase in Q4 2011 to a 6.7% rise in Q1. Government consumption was the only expenditure component that contracted in the first quarter of 2012 (Q4 2011: -0.3% year-on-year; Q1 2012: -1.3% yoy).

Exports expanded 4.8% in the first quarter (Q4 2011: +7.9% yoy), while imports increased 3.2% (Q4 2011: +5.0% yoy). As a result, the external sector's net contribution to overall economic growth fell from 1.0 percentage points in the fourth quarter to 0.7 percentage points in the first.


Sample Report

Looking for forecasts related to GDP in Poland? Download a sample report now.


Poland Economic News

More news

Search form