EC downgrades Poland's GDP growth forecasts to 2.4% in 2012, 1.8% in 2013.

By bne IntelliNews November 8, 2012
Poland's real GDP growth is projected to slow down considerably to 2.4% in 2012 and further to 1.8% in 2013, only to rebound to 2.6% in 2014 (from 4.3% in 2011), according to autumn forecasts of the European Commission. In the spring, it projected economic growth at 2.7% in 2012 and at 2.6% in 2013. "The fallout from the global slowdown and deteriorating domestic moods are expected to shape the prospects of the Polish economy over the forecast period. The economy is likely to face external headwinds reflected in sluggish domestic demand growth in 2013 and a marginal rebound is anticipated only in 2014 ," the report reads. EC says that in 2013, the contribution of domestic demand to growth is likely to be seriously hampered by weaker labour market conditions, worsening consumer and producers' sentiment and slowing inflows of EU funds. In 2014, private investment and private consumption are expected to inch up against the background of a reviving global environment.

EC downgrades Poland's GDP growth forecasts to 2.4% in 2012, 1.8% in 2013.

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