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Poland’s economy still high – GDP grows 3% in Q1 of 2010

According to the data published by the Central Statistical Office (GUS), the economic growth in Poland in the 1st quarter of 2010 was 3%.

According to GUS, "in the 1st quarter of 2010 the main GDP growth factor was domestic demand. Its impact on the rate of economic growth was 2.3%. The impact of total consumption expenditure and capital formation was 2% and 0.3% respectively (with negative impact of investment demand -1.8% and positive impact of stock change 2.1%). The impact of foreign demand (net export) is still a positive value, however its scale is clearly smaller than in the previous quarters (0.7%)."

First 2010 GDP results for Q1 from other countries (Germany – 0.2% growth, UK – 0.3% growth) allow to realistically believe that Poland’s GDP in the 1st quarter of 2010 will rank Poland among top countries of the European Union.

Market experts say that Poland’s GDP after Q1 might have been even higher, but long and hard winter postponed some construction projects planned in the winter period.

Depending on various forecasts of key European financial institutions, Poland’s 2010 GDP will reach between 2.5% and 3.1%, and Poland, next to Slovakia, will grow fastest in 2010

Publication date :1 June 2010

Published by :Katarzyna Szulc
Author : Public Relations Office

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