Official statistics support claims of continued recovery

The Central Statistical Office (GUS) announced that the third quarter of 2002 was clearly better than the previous two and was characterized by signs of an economic rebound. Data concerning the economic situation in September may be a precursor of positive tendencies to take place in the coming months. Despite this, in the context of the financial situation of bus inesses and investment capacities, the third quarter revived a number of nagging questions concerning the duration of the recovery. Statisticians are cautious optimists. "September was characterized by indications of slight economic growth, initiated in the third quarter. It can be expected that this augurs well for the fourth quarter," said Janusz Witkowski, vice president of GUS. In addition, September was a month of apparent improvement on the labor market, though optimism should be restrained. Witkowski was, however, pleased with the situation of private enterprise, "I personally believe that the industrial output dynamic of 3.2% is a very positive result. This increase is indicative of a durable nature of the recovery." (Puls Biznesu, p. 5) A.C.