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Two global banks forecast sharper deceleration in 2013 due to eurozone problems


2012-06-22



Barclays Capital (BarCap) and Bank of America Merrill Lynch (BoAML) have revised downwards their forecasts of GDP growth in Poland in 2013 due to deteriorating outlook for the eurozone and the global economy. At the same time, they reaffirmed their estimates for this year.

BarCap reckons the Polish economy will expand by 2.2% rather than 2.5% in 2013, as the contraction in the eurozone deepens to 0.8% of GDP from a projected 0.3% this year. In 2012 the domestic economy is still expected to grow by 2.7%, however.

BoAML likewise predicts a sharper deceleration in Poland next year, to 2.5% rather than the previously forecast 2.9%, down from 3% in 2012, as continued weakness in the eurozone weighs down on exports and saps confidence.



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