GUS: Polish economy grew by 3.6% – Banker

Polish gross domestic product increased in real terms in 2015
 3.6% – according to preliminary estimates of the Central Statistical Office. This means that
 last year saw the strongest growth in four years.

 

Economists have estimated last year’s economic growth
 3.5% against 3.3% recorded in 2014.

 

The main growth driver was the Polish economy sector
 Industrial, where the gross value added increased by 5.4% compared with an increase of
 4.0% recorded in 2014. Value added in construction increased by
 4.4% yoy in trade and repairs by 3.1% and transportation and warehousing
 0.7%.

 
 

In 2015, domestic demand growth was real
 3.4% yoy and was lower than the 4.9% recorded a year earlier. Foreign trade picked up GDP growth by 0.3 percentage points. per cent., while in 2014 the contribution
 net exports amounted to -1.5 points. percent.

 

Household consumption rose in 2015 by 3.1%
 yoy, which is the same as last year. Investments increased by 6.1% yoy
 compared to 9.8% in 2014.
 

Vice-President of the CSO: All indications are that this was the best quarter

 

The main engine of economic growth in 2015 was domestic demand – said vice-president of GUS Halina Dmochowska.

 

“The figures for 2015. show that at low inflation dynamics
 seeing a continuation of the positive trends in the economy persist
  since the second half of 2013. can assess that domestic demand was the main
 factor of economic growth. Greater was the impact of demand
 consumer than investment. Net exports, unlike before
 last year, had a slight positive impact on GDP, “- said Tuesday
 Conference Dmochowska.

 

The CSO said that in 2015. GDP grew by 3.6 percent. yoy.

 

Dmochowska estimated that GDP growth in the fourth quarter was probably the highest of all quarters last year.

 

“All indications are that this was the best quarter” – she added in an interview with journalists.

 

In her view, components, whose positive impact on GDP in 2016.
 may be particularly visible are domestic demand and investment.

 

“The investments I see a certain reserve, there may be an acceleration in
  this year. We have a new perspective of the EU, and this year could move
 first projects, though it depends also on the calendar of implementation.
 Positive domestic demand can therefore affect the government’s plans
 family support, “- she said.

 

She added that the main factor of uncertainty for the economy remains the external situation, including China.

 

 “This is, by transmission through other economies may slow down our growth,” – she said.

 

MF: GDP data confirm the good condition of the Polish economy

 

             GUS data on economic growth in 2015.
 They confirm the good condition of the Polish economy and is consistent with
 expectations of the Ministry of Finance – said the finance ministry in
 commentary, sent PAP.
           

 

“Better-than-expected short-term indicators
 the economic situation in the fourth quarter. last year were reflected in
  real GDP growth in the fourth quarter. We estimate that this growth rate y / y
  It amounted to approx. 3.8 per cent. (possible range from 3.6 per cent. to 4 percent.)
 compared to 3.5 per cent. in the third quarter., which, according to present information GUS
 allowed the growth of GDP in the whole 2015. by 3.6 percent. “- written in
  Communication Ministry of Finance.

 

Resort pointed out that growth was supported mainly by demand
 national, with a small, but nevertheless positive contribution of exports
 net. “Good results in domestic demand are related to the acceleration
 the rate of growth of household consumption to changes in this category
 Economic recorded in 2014. Positive results should also receive
  investment demand – real investment growth turned out to be
 Although lower than in 2014. However, the scale of change was almost
 two times higher than GDP growth, “- indicated.

 

According to the Ministry of Finance favorable trends in the real economy translate
  the improvement of the situation on the labor market. “We estimate that a harmonized
 the unemployment rate is calculated on the basis of the survey,
 Population (LFS) and unemployment statistics recorded in the year
 Last averaged 7.5 percent. to 9 percent. on average in 2014.
 It is a very good result, close to the estimated level of foot
 equilibrium unemployment “- said the Finance Ministry.

 

Moody’s warns Poland. Gold weakens

Tuesday morning brought a further weakening of the zloty. Apart from a global perspective and declines in world markets, the impact on the Polish currency still have indications of which the credit rating agencies at the forefront today Moody’s.

 
 

According to the Ministry the results that the Polish economy achieved in 2015
  r., in conjunction with the NBP data on historically low imbalance
 current account balance, you should receive a very good point
 Output growth in 2016.

 

mmu / mhr / Score / ana /

Krzysztof Kolany