Poland's poor Q1 'disappoints even the pessimists'

"The data disappointed even the pessimists," said Katarzyna Zajdel-Kurowska, Bank Handlowy economist. After the Central Statistical Office published this data, the value of the złoty fell by 0.3% against the euro and dollar. Investments in Q1 also disappointed as they rose by only 1%. "Most of the analysts expected the worth of investments to grow by over 10%. This is the weakest result in many quarters. It is even more surprising as initial data on the economic situation showed there was a considerable rise in investments. It was export, not investments, that added 1% to the growth of GDP," said Zajdel-Kurowska. Economists believe that in the light of the newest data the Monetary Policy Council should consider lowering interest rates. (Puls Biznesu, p. 6; Rzeczpospolita, pp. A1, B1, B2, B3) D.W.