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HSBC cuts 2013 GDP growth forecast to 3.1%


HSBC, the global banking group, has trimmed its forecast of economic expansion in Poland next year, but still expects growth to pick up in 2013 after slowing this year.

The bank reckons GDP growth will amount to 3.1% next year, rather than the previously projected 3.5%. At the same time, HSBC sticks to its forecast of 2.7% GDP growth in 2012, a marked deceleration from 2011 but still one of the highest growth rates in the EU this year. According to the bank, latest labour market indicators as well as data for exports and investment suggest activity is weakening across the board and the trend will deepen in the months ahead.

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