Ministry sees GDP growth slowing down in Q2

Following macroeconomic data released in July, the Polish Ministry of Economy expects GDP growth in the second quarter of this year to be 3.1 percent compared to 3.4 percent in Q1, according to a statement quoted by the Polish Press Agency. At the same time, the ministry upheld its forecast for full-year GDP growth at 3.3 percent and cut down its forecast of the registered unemployment rate to 12.3 compared to an earlier projection of 13.5 percent. The ministry expects inflation to come in at 0.3 percent y/y in 2013 compared to an earlier forecast of 1.2 percent.