EC raises forecast of Poland's 2010 GDP growth to 3.4% from 2.7%.

By bne IntelliNews September 14, 2010
The European Commission has raised its forecast for Poland's 2010 GDP growth to 3.4% from 2.7% expected in May, the Commission said in a report. The EC also expects Poland's HICP inflation at 2.6% this year vs. 2.4% forecasted in May. This follows from the better-than-expected result in H1/2010 the EC explained. "The recovery is likely to be mild in the second half of the year, as the impetus from stock-building is likely to peter out and employment growth will remain sluggish towards the end of 2010," the Commission said. The annual HICP inflation rate reached 2.5% in Q2/2010, a notch higher than in the spring forecast, the Commission also noted. "It is expected to remain below the central bank's inflation target of 2.5% within the forecast horizon, reflecting the remaining slack in the economy," it concludes. ISB

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