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GDP growth at 4.3% y-o-y in Q4


Poland’s gross domestic product amounted to over PLN 428.9bn (approx. €97.1bn) in the fourth quarter of 2011, which in real terms translates into growth of 4.3% compared with the same period a year ago, according to a preliminary estimate from the Central Statistical Office (GUS). The result is better than in Q3 and ahead of a market consensus of 4.2% y-o-y.

The main growth-supporting factor was domestic demand, which contributed 3.4 percentage points to GDP growth in Q4. Of this, consumption delivered 0.9 p.p. while gross capital formation 2.5 p.p., thanks to a recovery in investment. The contribution of net exports was also positive at 0.9 p.p.

In January GUS published a preliminary estimate of GDP growth in 2011 as a whole, which put growth last year at 4.3%.

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