Wednesday, 30 January 2013

Polish Economy Grew by 2.0% Last Year

Today, the Polish Statistical Office has published the economic data for 2012.

After a growth rate of 4.3% in 2011, the economic growth has flattened significantly. Last year, the economic growth rate came at 2.0%. Economists expect Poland´s economy to slow down further. According to IMF, the growth rate will reach 1.5% this year. The Polish government predicts a growth rate of 2.2%.
Above all, domestic demand stagnated last year. In 2011, domestic demand increased by 3.4% in real terms. Last year, the growth rate only was 0.1%. For the first time since 1993, real wages were down in 2012. Gross wages moved up by 4.3%. Investments were up by 0.6%. The labor productivity improved by 2.0% in 2012.

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