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GDP growth accelerates to 4.2% y-o-y in Q3


2010-12-01



Poland’s gross domestic product amounted to a little over PLN 348.9bn (approx. €87.1bn) in the third quarter of 2010, which in real terms translates into growth of 4.2% compared with the same period a year ago, according to a preliminary estimate from the Central Statistical Office (GUS). The result was better than in Q2 and well ahead of market expectations, which averaged 3.8% y-o-y.

The main growth-supporting factor was domestic demand, which contributed 4.2 percentage points to GDP growth in Q3 (of this, consumption delivered 2.9 p.p. while gross capital formation 1.3 p.p., mostly thanks to stock rebuilding). The contribution of net exports was neutral.

In the first three quarters of 2010, the Polish economy expanded by 3.6% y-o-y.



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