Poland's 2013 GDP grows 1.6% y/y - GUS
January 31, 2014
Poland's GDP grew an estimated 1.6% year-on-year in 2013, 0.1 ppt above expectations for 1.5% increase, with investments down by 0.4% and domestic demand edging down by 0.2%, the Central Statistical Office (GUS) said Thursday citing preliminary estimates.
Economists surveyed by PAP Polish news agency expected investments to slide by 0.4% y/y, while domestic demand was expected to edge down 0.1% y/y.
Poland's 2013 GDP growth reading is "a nice surprise" but 2014 growth will be higher as unemployment has stopped increasing, Finance Minister Mateusz Szczurek commented on the data.
Poland's 2014 budget is built on 2.5% GDP growth assumption but Poland is expected record a higher GDP growth rate, possibly neighboring 3% in 2014, Szczurek told a radio audience Thursday morning.