Polish GDP Growth Confirmed at 0.6% QoQ in Q3

In the third quarter of 2013, Poland's economy expanded 0.6 percent over the previous three-month period, up from 0.4 percent in the June quarter. The figures match the initial estimate released earlier November and show that the economy accelerated for the third straight quarter.

On the expenditure side, while individual consumption accelerated to 0.2 percent, public expenditure eased to 0.4 percent (from 1.1 percent in the previous quarter). Gross capital formation in the third quarter rose by 2.5 percent and gross fixed capital formation grew 0.6 percent.

The external sector surged, as both exports and imports accelerated over the previous quarter and rose by 2.5 percent and 3.2 percent, respectively (from 1 percent growth rate and a 3.6 percent drop, respectively, in the June quarter). 

On the production side, the industrial sector decelerated to 1.2 percent, from 2.5 percent a quarter earlier. In contrast, the construction sector recorded the highest growth rate and rose 2.3 percent, rebounding from a 2.9 percent contraction in the previous quarter. 
Gross value added in trade and repair increased 1.2 percent, in transportation and storage 1.0 percent and in financial and insurance activities dropped by 1.3 percent.

Year-on-year, Polish economy strengthened in the third quarter of 2013 and expanded 1.9 percent, the fastest rate in the last five quarters, boosted by domestic demand and exports. 

Polish GDP Growth Confirmed at 0.6% QoQ in Q3

Central Statistical Office | Joana Taborda | joana.taborda@tradingeconomics.com
11/29/2013 11:05:12 AM