Polish economy ministry sees Q2 GDP at around 4pc

WARSAW: The Polish economy likely grew by around 4 percent year-on-year in the second quarter, the economy ministry said on Monday, slightly slower than the 4.4 percent expansion in the first three months of the year.

Poland's statistics office will publish second-quarter GDP data on Tuesday with analysts expecting the figure to come in at 4.2 percent.

"The Economy Ministry estimates second-quarter GDP growth at around 4 percent (maybe 4.1-4.2 percent). Growth should continue to be balanced, that is, supported by consumption and investments, while the net exports contribution should be close to neutral," the ministry said in a statement.

"We forecast consumption growth at around 3.5 percent. The dynamics should continue above 3 percent in the rest of the year as well. Investment-driven demand should go on rebounding in the second half of the year," the statement added.

The European Union's largest ex-communist economy grew 3.8 percent in 2010. The ministry said growth could be around 4 percent this year if no major external shocks occur.

Prime Minister Donald Tusk said last week he saw the second-quarter figure at 3.5-4.0 percent.

Copyright Reuters, 2011