Poland’s growth falls to 1 percent

WARSAW - Agence France-Presse

Poland’s economy grew by 1 percent in the third quarter compared with output in the previous three months, seasonally-adjusted data from the national statistics office showed yesterday. Growth compared to the third quarter of 2010 was 4.2 percent.
“Third-quarter growth was stimulated above all by domestic consumption,” the office said.
Poland has been the only member of the 27-nation European Union to sustain growth throughout the continent’s slump.
The nation of 38 million people posted economic growth of 1.1 percent in the second quarter compared with the first, and the same rate in January-March.
Output in the second quarter had expanded by 4.5 percent against the same period of 2010, and by 4.4 percent in the first.
In October’s general election, centrist Prime Minister Donald Tusk became the first government leader to win a second term since 1989.
Tusk, who campaigned as a safe pair of hands in tough economic times, has voted to use his new term to introduce sweeping austerity reforms aimed at safeguarding growth amid crisis in the eurozone.
Poland’s 2009 growth rate of 1.7 percent was a shadow of previous years’ performances.
Although non-eurozone member Poland weathered the global crisis well thanks to its domestic market, its main trade partners are in the debt-struck eurozone, causing jitters.
Last year, economic output grew by 3.8 percent. Poland’s central bank has predicted 4 percent growth this year and 2.7 percent in 2012.
A recent European Commission forecast put Polish growth at 2.5 percent in 2012 and 2.8 percent in 2013.

Poland’s economy grew by 1 percent in the third quarter compared with output in the previous three months, seasonally-adjusted data from the national statistics office showed yesterday. Growth compared to the third quarter of 2010 was 4.2 percent.
“Third-quarter growth was stimulated above all by domestic consumption,” the office said.
Poland has been the only member of the 27-nation European Union to sustain growth throughout the continent’s slump.
The nation of 38 million people posted economic growth of 1.1 percent in the second quarter compared with the first, and the same rate in January-March. Output in the second quarter had expanded by 4.5 percent against the same period of 2010, and by 4.4 percent in the first.
In October’s general election, centrist Prime Minister Donald Tusk became the first government leader to win a second term since 1989.
Tusk, who campaigned as a safe pair of hands in tough economic times, has voted to use his new term to introduce sweeping austerity reforms aimed at safeguarding growth amid crisis in the eurozone. Poland’s 2009 growth rate of 1.7 percent was a shadow of previous years’ performances.
Although non-eurozone member Poland weathered the global crisis well thanks to its domestic market, its main trade partners are in the debt-struck eurozone, causing jitters.
Last year, economic output grew by 3.8 percent. Poland’s central bank has predicted 4 percent growth this year and 2.7 percent in 2012.