According to the latest data, GDP increased by 2.7 per cent year on year in the fourth quarter of 2013. - It is a bit weaker result than expected, but this is not a cause for concern – says Łukasz Kozłowski, an expert of the Employers of Poland.
Only one month ago, such growth rate would be widely treated as a very positive surprise. However, the estimate, which was announced by Central Statistical Office in late January, of GDP growth rate in 2013 at the 1.6 per cent level entailed a very significant acceleration at the end of the year, which greatly aroused expectations for the fourth quarter.
The economic data for the first month of the year give cause for optimism. The PMI, which is a good indicator of growth in the economy, reached a very high level of 55.4 points - only observed in 2004, 2006 and 2010. We should see a further acceleration of the Polish economy in the first quarter. It cannot be excluded that GDP growth rate will even approach 4 per cent in the whole of 2014.
Łukasz Kozłowski, an expert of the Employers of Poland