In relation to the published on 12 August 2016. Rapid estimate of gross domestic product for the second quarter of 2016., Presented now estimate has not changed – informs GUS.
With the GUS data on GDP seasonally uncompensated domestic demand in the second quarter of 2016. It was higher by 2.4 percent. compared with the same period of 2015. Total consumption was higher than the previous year by 3.5 percent. This increase in consumption in the household sector amounted to 3.3 percent, and the growth of government consumption was 4.4 percent.
Rising consumption
CSO points out in a statement that in the second quarter. growth in domestic demand, in the year (2.4 percent.) was slower than that recorded in the first quarter of 2016. (4.1 percent.). – Was influenced by a decrease in accumulation and, similar to that recorded in the first quarter of this year., The increase in total consumption, which amounted to 3.5 percent. (Compared to 3.4 per cent. In the first quarter of this year.). The increase in consumption in the household sector (3.3 percent.), Marks the Central Statistical Office, was slightly higher than in the first quarter of 2016. (3.2 percent.).
Industry for good
In addition, informs the Central Statistical Office, gross value added in the national economy in the second quarter of 2016., Compared with the same period of 2015. Was higher by 2.9 percent.
gross value added in industry increased year on year by 5.1 per cent., while in the construction sector was lower by 9.6 per cent., in trade and repairs increased by 5.4 per cent., and in transportation and warehousing increased by 6.9 percent.
gross value added in financial activities and insurance was higher by 2.9 percent. yoy, while in public administration and defense, compulsory social security, education, health care and social assistance, including in the second quarter of 2016. grew annually by 2.2 percent.
Gross capital formation in the second quarter of 2016. decreased by 2.3 percent. compared with the same period of 2015. in the gross fixed capital formation decreased by 4.9 percent. The investment rate (ratio of gross fixed capital formation to gross domestic product at current prices) amounted to 16.7 percent. compared to 18.1 per cent. the year before.
In turn, the seasonally adjusted GDP compared with the previous quarter, the Central Statistical Office reports, in the second quarter of 2016. grew in real terms by 0.9 percent.
Morawiecki: at the end of the year reflected investments
At the end of the year should be reflected in investments – found on Tuesday in Warsaw Deputy Development Minister Mateusz Morawiecki. He added that in 2016. Is possible GDP growth of 3.3-3.4 percent.
GUS in the preliminary estimate, said on Tuesday that the gross domestic product seasonally unadjusted (constant average prices of the year previous) increased in the second quarter of 2016. in real terms by 3.1 per cent., compared with the second quarter last year. year. The Office said that compared to the previous quarter, the GDP grew in real terms by 0.9 percent. GUS also that investments in the second quarter. This year. They fell by 4.9 percent. yoy.
Deputy Prime Minister in an interview with reporters pointed out that the current “hole” of decreasing capital expenditures associated with the downtime between the previous and the current budgetary outlook for EU funds.
– Indeed, in the first half of the year investments public and private were lower than last year – said Morawiecki.
– I think that at the end of this year, will no longer be a reflection of the investment. In the wake of public investment, I hope that will increase private investment. We begin to attract portfolio investors associated with investments reindustrialnymi. It’s all in the next few months will translate into a stronger trend in investments – he added.
Morawiecki estimated that in the whole of 2016. Is possible GDP growth of 3.3-3.4 percent.
– The GDP growth should accelerate. I think in the second half. GDP may be stronger than in the first half and the full year, GDP growth is still possible at the level of 3.3-3.4 percent. – Morawiecki said.
Morawiecki participated on Tuesday in Warsaw in the signing of contracts for the financing of road projects under the Operational Programme Eastern Poland 2014-2020.
We are waiting for funds from the EU
Guest Polish Radio 24, vice president of the National Chamber of Commerce Marek Kłoczko expects that the investment will accelerate when will commence on good agents from a new perspective of the EU. According to him, also shows some inhibition of private investment, which is associated with several factors – uncertainty in the environment Polish, as well as certain tensions in the country.
– On the one hand we know the assumptions of the plan of Deputy Morawiecki, but the business likes details, specifics, and yet we have not reached that stage, therefore, it is difficult to design investment risk if you do not know what the investment environment will function – said Marek Kłoczko.
Ignacy Morawski of the Warsaw Institute of Economic Studies (WiseEuropa) drew the attention of the Polish Radio 24 that economic growth was maintained thanks to consumption, which is growing due to high wage growth. Speaking about investments, he expressed the hope that these will accelerate after all.
GDP growth in line with forecasts
The Economist BZ WBK Piotr Bielski indicates that this information is consistent with an earlier, preliminary reading GUS. The expert adds that turned out to be a disappointing investment, which fell by almost 5 percent. Positively surprised while data on exports, which rose by 11 per cent peacocks, despite earlier information about the deteriorating situation in this regard.
expert expects that in the coming quarters economic growth will be close to 3 percent.
PAP / IAR, abo
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