In the first quarter, GDP increased 4.4% over the same quarter of the previous year. The result was in line with market expectations but a notch below the 4.5% growth registered in the fourth quarter. Compared to the previous quarter, the economy increased a seasonally adjusted 1.0% (Q4: +0.8% quarter-on-quarter). Domestic demand continued to have the most significant impact on GDP growth, adding 4.5% in Q1 (Q4: +6.3% year-on-year). Private consumption rose 3.9% over the same period last year, below the 4.0% increase registered in the fourth quarter. Gross fixed investment expanded a strong 6.0%, up from the 1.6% rise in the previous quarter. Meanwhile, the net contribution from the external sector to overall economic growth improved compared to the fourth quarter, but remained negative. Exports grew 5.9% in the first quarter (Q4: +7.0% yoy) and imports increased 6.2% (Q4: +11.6% yoy). As a result, the net contribution from the external sector to overall economic growth increased from minus 1.7 percentage points in the fourth quarter to minus 0.1 percentage points in the first. At the sector level, industry increased 7.8%, up from the 6.5% rise recorded in Q4, while services expanded 3.3% (Q4: +3.3% yoy). In its March Inflation Report, the Central Bank sees the economy growing 4.2% in 2011 and 3.6% in 2012.
Domestic demand supports robust economic growth in Q1
May 31, 2011
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Poland Economic News
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.
October 3, 2016
The Manufacturing Purchasing Managers’ Index (PMI) rose from August’s 51.5 to a six-month high of 52.2 in September, according to IHS Markit.
September 30, 2016
According to a preliminary estimate released by the Central Statistical Office (GUS) on 30 September, consumer prices recorded flat growth over the previous month in September, which followed the 0.2% fall recorded in August. In annual terms, consumer prices dropped 0.5% in September, which was a less pronounced decline than the 0.8% fall recorded in August.
September 30, 2016
The manufacturing sector business climate index decreased from 4.8 points in August to 3.3 points in September, according to the Central Statistical Office’s Business Tendency Survey (GUS-BTS).