Poland GDP growth hits 8-year high boosted by public spendingStaff writer ▼ | April 20, 2016
The Polish economy expanded by 1.5 percent on quarter in the three months to December of 2015, following an upwardly revised 1.0 percent growth in the previous quarter.
Europe Ghe highest GDP value since the fourth quarter of 2007
Year-on-year, the economy expanded by 4.3 percent compared to revised 3.4 percent growth in the previous period and above flash 3.9 percent growth.
Final consumption expenditure advanced by 1.1 percent, from 0.7 percent growth in the previous period, as government expenditure expanded 2.5 percent (+0.8 percent in Q3) while gross fixed investment grew at a slower 1.1 percent (+1.3 percent in Q3) and household consumption went up 0.5 percent (+0.6 percent in Q3).
Meanwhile, net external demand dragged the expansion down as exports of goods and services rose by 3.2 percent, following a 1.9 percent growth in the previous period, while imports advanced at a faster 3.8 percent, compared to a 1.7 percent increase in Q3.
Year-on-year, the economy expanded by 4.3 percent compared to a 3.4 percent growth in the previous quarter and above preliminary estimates of 3.9 percent growth.
Total consumption expenditure increased 4.4 percent (+3.0 percent in Q3), as public consumption rose 1.6 percent (+0.2 percent in Q3) and household consumption advanced by 1.5 percent (+1.9 percent in Q3). Gross fixed investments grew at a faster 1.2 percent (+0.8 percent in Q3). ■