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GDP growth at solid 4.2% y-o-y in Q3


Poland’s gross domestic product amounted to just under PLN 375.1bn (approx. €90.4bn) in the third quarter of 2011, which in real terms translates into an increase of 4.2% compared with the same period a year ago, according to a preliminary estimate from the Central Statistical Office (GUS). The result is only 0.1 p.p. lower than in the previous quarter and better than a market consensus of 4% y-o-y.

Domestic demand remained the main growth engine, contributing 3.2 p.p. to GDP growth in Q3, but the contribution of net exports was also positive at 1 p.p. Within domestic demand, the role of consumption weakened, delivering 1.2 p.p., while gross capital formation added 2 p.p.

Cumulatively in the first three quarters of 2011 Poland’s GDP grew by 4.4% y-o-y.

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