Poland outstrips EU in GDP growth

7th June 2009

Poland's Q1 GDP growth, on seasonally-adjusted basis, amounted to 1.9% y/y, the best result among EU states that have already reported Q1 data, Eurostat said in a Wednesday report.

Poland had previously released its Q1 GDP report, including the 0.4% and 1.9% seasonally adjusted growth rates. Local headlines had focused on a 0.8% unadjusted annual growth rate.

The statistics released by the government this week also showed that investment increased by 1.2 percent even though a 3 percent decline was expected.

"Investment outlays on fixed assets are still strong which is a positive surprise to me. The strong decline in inventories was offset by private consumption,” said Mateusz Szczurek ...