Polish Q4 GDP Growth Confirmed at 2-1/2-Year High

The Polish economy expanded by 1.1 percent on quarter in the three months to December of 2015, up from a 0.9 percent growth in the previous quarter and hitting its highest value since the second quarter of 2013, final figures showed. Public spending and fixed investment were the main drivers of growth, while household consumption advanced at a slower pace and net external demand contributed negatively.

Final consumption expenditure advanced by 0.8 percent, from 0.6 percent growth in the previous period, as government expenditure advanced 1.3 percent (+0.8 percent in Q3) and gross fixed investment grew 1.3 percent (+1.2 percent in Q3); while household consumption went up at a slower 0.5 percent (+0.6 percent in Q3). Meanwhile, net external demand dragged the expansion down as exports of goods and services rose by 4.3 percent, following a 1.6 percent growh in the previous period, while imports advanced at a faster 5.6 percent, compared to a 0.9 percent increase in Q3.

Year-on-year, the economy expanded by 3.9 percent compared to a 3.5 percent growth in the previous quarter and matching preliminary estimates, as fixed investment grew at a faster 4.9 percent (+4.6 percent in Q3) while household consumption advanced by 3.1 percent, the same pace as in the previous quarter.

Central Statistical Office of Poland | Joana Ferreira | joana.ferreira@tradingeconomics.com
2/29/2016 9:58:45 AM