Q3 growth at 2.5 percent – GUS

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Poland’s Central Statistical Office reported on Wednesday that Q3 gross domestic product grew by 2.5 percent, y/y, consistent with its forecast two weeks earlier. “In relation to the previous estimates [of November 15], measured growth for the third quarter has not changed,” the statement from GUS read. It also stated that seasonally adjusted GDP (reflecting constant prices) increased in real terms by 0.2 percent, compared to the previous quarter, and was higher than the previous year by 2.2 percent. Furthermore, its report stated that investments plummeted by 7.7 percent, although domestic demand grew by 2.9 percent, y/y.

In quarterly terms, GDP in the third quarter rose by 0.2 percent. The country’s Development Ministry, in a press release on Wednesday, forecast that growth for the final quarter of 2016 would improve.  It cited increased consumer spending and “a favourable growth structure” as indicators that GDP would pick up. “In the opinion of the Ministry of Development, the growth rate in the last quarter of 2016 should accelerate slightly, mainly due to the acceleration of the pace of private consumption,” the statement read.

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