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 sai

Published August 29, 2011 Updated August 29, 2011 11:42am

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By Imad Uddin

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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.

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