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Macroeconomics  |  January 30, 2013 09:28:02

Polish GDP grew in line with estimates by 2%

Polish GDP grew in line with expectations of 2.0%. Growth in domestic demand was weak, just 0.1%. Contributed most to the growth of net exports. We assume that in the current quarter, the economy will stagnate, and that also goes on the bottom of the current cycle. In the second half should be a gradual acceleration of economic growth. Households, due to stagnation of real wages should remain cautious, however, we expect better investment. The central bank should respond to the weakness of the economy by reducing interest rates in February, then we expect the rate cuts break. Zloty was maintained near 4.19.

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