Polish FinMin upholds Poland's 2014 GDP growth forecast at 3.3% after weaker data

By bne IntelliNews July 25, 2014

After the publication of a series of weaker-than-expected macroeconomic data, Poland's ministry of finance has upheld its forecast of this year's GDP growth of 3.3% (vs. last year's 1.6%), according to minister of finance Mateusz Szczurek.

He admitted that it will be hard to replicate Q1 GDP growth (which reached 3.4% y/) in Q2 of 2014.

In June, retail sales' growth decelerated to 1.2% y/y (vs. market consensus of 4.5%), reaching the weakest pace in over a year. Industrial output grew by 1.7% y/y (vs. expected 3.5% growth), also at the weakest pace in a year.

Still, Szczurek pointed to continuously falling unemployment and rising wages as positive developments in the Polish economy.

For 2015, the government expects growth to pick up further to 3.8%.

Read in IntelliNews Pro

Get IntelliNews Pro

Related Articles

Poland’s Enterprise Investors acquires Croatian grocery chain Studenac

Polish Enterprise Fund VIII, a private equity fund managed by Enterprise Investors, signed an agreement to acquire a 100% stake in Studenac, a network of neighbourhood grocery stores operating in ... more

Polish PM takes over supervision of PKN Orlen and Lotos

Poland’s Prime Minister Mateusz Morawiecki has taken over supervision of two state-controlled oil and gas companies, PKN Orlen and Lotos, the energy ministry said on June 5. Stripping the ... more

CEE's oldest accelerator StartupYard picks six startups for crowdsourced funding

Prague-based start-up accelerator StartupYard will distribute up to CZK20mn (€782,000) to young companies to help them grow their businesses. The money was raised via a crowdfunding campaign ... more

Dismiss