GDP growth at a robust 3.1% y-o-y in Q4

2010-03-02



Poland’s gross domestic product grew by 3.1% y-o-y in the fourth quarter of 2009, according to preliminary estimates from the Central Statistical Office (GUS). The result – which beat market expectations – represents a notable acceleration compared with 1.7% y-o-y growth in Q3.
The main driving force were net exports, which contributed 2.2 percentage points to GDP growth in Q4. The contribution of domestic demand was positive again, at 0.9 points, after three consecutive quarters of negative impact (of this, consumption contributed 0.6 p.p. and gross capital formation, 0.3 p.p.).
In 2009 as a whole the Polish economy expanded by 1.7%.