Poland: Economic growth accelerates in 2011
January 27, 2012
The Polish economy remained healthy last year. According to preliminary data from the Central Statistics Office (GUS), GDP expanded 4.3% in 2011, which was up from the 3.9% expansion observed in 2010. The preliminary data is still subject to revision and more detailed figures for 2011, including fourth quarter results, will be published on 1 March. The acceleration in 2011 was led by robust growth in fixed investment, which swung from a 0.2% decline in 2010 to an 8.7% expansion in 2011. Meanwhile, private consumption growth remained virtually stable, inching down from a 3.2% increase in 2010 to a 3.1% rise in 2011. Domestic demand, however, decelerated to a 3.8% expansion in 2011 (2010: +4.6% year-on-year). The Central Bank anticipates the economy to expand 3.1% in 2012 and 2.8% in 2013.