GDP growth is very low in QII

APA - Austria Presse Agentur
30-08-2005, 18:33

Warsaw (Puls Biznesu) - In the second quarter of the year, the GDP growth amounted to 2.8 percent. In the first half of the year, the growth achieved 2.4 percent, the central statistical office GUS said. "These data are similar to expectations. Investments were a little bit worse than forecasts and amounted in the second quarter to 3.

Warsaw (Puls Biznesu) - In the second quarter of the year, the GDP growth amounted to 2.8 percent. In the first half of the year, the growth achieved 2.4 percent, the central statistical office GUS said. "These data are similar to expectations. Investments were a little bit worse than forecasts and amounted in the second quarter to 3.8 percent while in the first quarter they rose 1 percent", Maciej Reluga, BZ WBK chief economist said. In the first half of the year, they increased 2.6 percent.

Stanislaw Kluza, BGZ chief economist, commented that the GDP growth looks very poorly in comparison to the dynamics in 2004. In July, PPI and retail sales data were nearly by half worse than in June, which may make it difficult to achieve 4 percent GDP growth in the third quarter. "Even if in the second half of the year, the economic growth reached 4.5 percent, it would amount to around 3.5 percent in the whole year, much less than the budget assumes (5 percent)", Stanislaw Kluza estimated. Agnieszka Dacewicz is more optimistic. "We will watch investment and demand growth in the upcoming quarters, while exports will still help GDP, which this year should amount to 4.1 percent", Pekao analyst commented.

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Podpis: APA - Austria Presse Agentur

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