Economy
17:11 14 August 2019
Post by: WBJ

MPiT: consumption remains the main driver of GDP growth

MPiT: consumption remains the main driver of GDP growth
source: MaxPixel

Consumption, driven by social transfers, remained the main growth driver in the second quarter of 2019. GDP growth was also strongly supported by gross fixed capital formation, according to the Ministry of Entrepreneurship and Technology (MPiT), which has commented on GUS data.

On Wednesday, in a flash estimate, GUS  announced that GDP increased by 4.4 percent y/y in the second quarter of 2019, compared with a 4.7 percent increase y/y in Q1.

The Ministry believes that GDP growth “is undoubtedly a good result, which, according to preliminary and incomplete Eurostat estimates (no data from Estonia, Ireland, Greece, Croatia, Luxembourg, Malta, and Slovenia) places Poland in third place among EU countries (after Hungary and Romania ) in terms of economic growth. Eurostat’s complete GDP data for Q2 2019 are to be published on September 6.

(PAP)

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