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GDP growth slows to 3.5% y-o-y in Q1


Poland’s gross domestic product amounted to just under PLN 370.5bn (approx. €87.5bn) in the first quarter of 2012, which in real terms translates into an increase of 3.5% compared with the same period a year ago, according to a preliminary estimate from the Central Statistical Office (GUS). The result is fractionally below market expectations, which averaged 3.6% y-o-y, and compares to 4.3% y-o-y growth in Q4 2011.

The main growth-supporting factor was domestic demand, which contributed 2.8 percentage points to GDP growth in Q1. Of this, consumption delivered 1.2 p.p. while gross capital formation 1.6 p.p. The contribution of net exports was also positive at 0.7 p.p.

In 2011 the Polish economy expanded by 4.3%.

GDP and its components changes in Poland (%, y-o-y), Q1 2009-Q1 2012

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