In the fourth quarter, GDP increased 4.3% over the same quarter the previous year, which was marginally above the 4.2% expansion recorded in the third quarter and overshot market expectations of a 4.1% rise. Compared to the previous quarter, economic growth increased a seasonally adjusted 1.1% (Q3: +1.0% quarter-on-quarter). In the full year 2011, the economy expanded 4.3%, beating the 3.9% increase observed in 2010. Growth in the fourth quarter continued to be led by strong domestic demand, in particular, gross fixed investment. Domestic demand increased 3.3% in the fourth quarter, a notch above the third quarter's 3.2% increase. Although private consumption slowed from 3.0% in the third quarter to 2.0% in the fourth quarter, gross fixed investment accelerated from an 8.5% increase to a 10.3% rise in Q4. Government consumption was the only expenditure component that contracted in the last quarter of 2011 (Q4: -0.8% year-on-year; Q3: -3.1% yoy). Exports expanded 8.0% in the fourth quarter (Q3: +7.7% yoy), while imports increased 5.3% (Q3: +5.2% yoy). As a result, the external sector's net contribution net to overall economic growth was virtually unchanged, inching down from 1.0 percentage points in the third quarter to 0.9 percentage points in the fourth. The Central Bank sees the economy growing 4.1% in 2012 and 3.1% in 2013.
Polish economy maintains strong momentum in final quarter of 2011
March 5, 2012
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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).