Poland keeps 3.3pct 2014 GDP growth forecast despite weak data
July 25, 2014
Poland stands by its 3.3% GDP growth forecast for 2014 despite weaker economic performance in Q2 as reflected in the recent data, Finance Minister Mateusz Szczurek told reporters.
"Our [GDP] growth forecast for this year is 3.3% and we keep it," Szczurek said, following the final set of high-frequency data for Q2 out Wednesday.
"Huge q/q economic growth in Q1 will be hard to repeat in Q2, this much is visible in the data," he said. "But employment is growing, unemployment is falling and wages are rising; this most important aspect of economic growth from the point of view of a Pole seems unthreatened."
Comments follow the news that June retail sales growth fell to a 1.2% annual rate, notably below the 4.4% consensus forecast, the latest in a series of macro releases below expectation which have sparked talk of Q2 deceleration.