Poland Economy Expands 0.2 Percent in Q4

In the 4th quarter of 2012, seasonally adjusted GDP was higher by 0.2 percent than in the previous quarter and 1.1 percent higher than in the 4th quarter of the previous year. Non-seasonally adjusted GDP was higher by 1.1 percent than in the corresponding quarter of the previous year. The result for entire year of 2012 was 2.0 percent.

The further slowdown in GDP growth rate resulted from the drop of total consumption expenditure unrecorded since years, and the slightly smaller decline of gross capital formation than in the 3rd quarter of 2012. On the whole, the domestic uses decreased by 0.7 percent similarly to the 3rd quarter. 

The impact of individual consumption was negative and amounted to -0.7 percentage points (the impact of total consumption expenditure was -0.5 percentage points and gross capital formation -0.2 percentage points). The negative impact of total consumption expenditure was due to the decrease of individual consumption expenditure. 
The contribution of public consumption expenditure was neutral. The negative impact of gross capital formation on economic growth was made equally by negative impact of gross fixed capital formation and changes in inventories  -0.1 percentage points. The positive impact of net exports on economic growth remains positive (+1.8 percentage points) which came from both the slight increase in exports with the slight decrease in imports.

GUS | Nuno Fontes | nuno@tradingeconomics.com
3/1/2013 9:13:06 AM