Output past it's peak
Economists recorded a disappointing 3.3 percent industrial growth indicator in October. "The data is weaker than anticipated," said Katarzyna Zajdel-Kurowska, an analyst with Citibank Handlowy who expected a figure closer to 6.8 percent.
However, when seasonal factors are accounted for, growth amounted to 8.6 percent-only slightly worse than previously observed.
In response, Deputy Prime Minister Jerzy Hausner has lowered his prognosis for 2004 GDP growth to between 5.3 and 5.5 percent from the previous government prognosis of between 5.7 and 5.8 percent. Economists do not plan to revise their economic growth forecasts. "The rate of GDP growth should stabilize around four to five percent, but more likely closer to the lower boundary. Growth above five percent is rather unlikely," said Pekao's Jacek Wiśniewski. That opinion supports RPP's announcement, which forecasts GDP growth at 4.5 to 5.5 percent.
Production prices increased by 7.7 percent in October, which is more than expected, but still less than September's increase. (A.D., Interfax)
However, when seasonal factors are accounted for, growth amounted to 8.6 percent-only slightly worse than previously observed.
In response, Deputy Prime Minister Jerzy Hausner has lowered his prognosis for 2004 GDP growth to between 5.3 and 5.5 percent from the previous government prognosis of between 5.7 and 5.8 percent. Economists do not plan to revise their economic growth forecasts. "The rate of GDP growth should stabilize around four to five percent, but more likely closer to the lower boundary. Growth above five percent is rather unlikely," said Pekao's Jacek Wiśniewski. That opinion supports RPP's announcement, which forecasts GDP growth at 4.5 to 5.5 percent.
Production prices increased by 7.7 percent in October, which is more than expected, but still less than September's increase. (A.D., Interfax)
