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European Commission maintains 2011 growth forecast but warns of externally-driven slowdown


The European Commission has upheld its forecast of 4% GDP growth in Poland in 2011, but warned that growth would slow in the remainder of the year as deceleration in the EU and world trading partners takes its toll on the country’s manufacturing sector, consumer confidence, and labour market recovery.

The eurozone is projected to achieve 1.6% growth in 2011 and the EU27, 1.7%.

In its latest interim economic forecast Brussels predicts that real GDP growth in Poland will ease to 0.6% q-o-q and 0.5% q-o-q respectively in the third and fourth quarters of 2011, down from 1.1% q-o-q in Q1 and Q2.

At the same time, the country’s annual HICP inflation is expected to slow to 3.7% at the end of 2011, compared with previously forecast 3.8%.

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