Polish Economy is Growing Rapidly.
In the last 3 months of 2017 the growth was +5.1%
Gross domestic product in the last 3 months of 2017 grew for 5.1%, in the third quarter of 2017, it was 4.9% - GUS (Central Statistical Office) informs.
In the last 3 months of 2017, the GDP was seasonally stabilised (looking at prices since 2010) an it got bigger by 1% and was higher than last year by 4.3%.
GUS revised GDP growth for the second quarter of 2017 (seasonally stabilised) to 1%.
Fourteen analysts asked by ISB news were expecting GDP growth at 5.18% (the prognosis was from 5 to 5.4%).
The impact of the investment component on GDP increased in the last three months of last year compared to previous quarters – said the head of the Department of National Accounts for GUS.
“I can say that in the fourth quarter of 2017 the demand has a positive impact on GDP results due to consumer and investment demand”
"The impact of the investment component on GDP in the fourth quarter will be more important than in the previous quarters, and the increase in government and local government investments would have the greatest impact"
GUS has released a GDP estimate for the fourth quarter of 2017 today, the next one is expected to be published on 28th February.
“GDP dynamics exceeded 5.0% and it turned out to be the highest since the fourth quarter of 2011. Although the scheme of GDP growth will be published only at the end of this month, some research show that the fourth quarter was the first for a long time, where household consumption and investments were a big part of this numbers”
The head economist of Bank Pocztowy notices that after Tuesday's publication of the National Bank of Poland on December's exports and imports, it can be expected that net export value would have the negative contribution to GDP growth in the fourth quarter of 2017.
"The preliminary GDP percent in the fourth quarter of the previous year, as well as its expected growth, allow us to be optimistic in 2018. If the investments are already at such a level, there is a chance that they will also grow rapidly in this year. Consumption of households will remain still and for now we do not see any factors that would slow it down. In 2018 the rate of economic growth should still exceed 4.0% "