Economy kicks into high gear

3rd September 2010

Poland was the only EU economy to witness GDP growth in 2009

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Poland’s economy is picking up speed and accelerating faster than economists’ forecasts, easing concerns about global recovery.

In August, the Purchasing Managers’ Index (PMI) advanced to 53.8 from July’s six-month low of 52.1, HSBC Holdings Plc revealed, citing a survey by Markit Economics. HSBC points out that Poland’s PMI rose to a 37 month high with the fastest growth in production seen since March 2007.

Growth in domestic demand contributed significantly to the figures in August as consumers increased purchases encouraging companies to rebuild inventories. Meanwhile, growth of new export business slowed to its lowest level since October of last year.

“The good news ...

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