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NEWS Poland Posted Second-Fastest EU Growth

News from Bloomberg

Poland Posted Second-Fastest EU Growth in 1st Quarter

Poland posted the European Union’s second-fastest economic growth for the first quarter so far as investments in buildings and machinery and household spending kept the nation from slipping into eastern Europe’s recession.

Gross domestic product expanded an annual 0.8 percent, the Central Statistical Office said in a preliminary estimate today in Warsaw, the second-best result of the 20 EU countries that have reported first-quarter GDP, behind Cyprus. Seven others, including Slovenia, have yet to release first-quarter figures. The 16-member euro zone contracted 4.6 percent in the period.

Poland has shown more resilience to the global financial crisis than neighbors from the former communist east including the Czech Republic, Lithuania and Hungary. Individual consumption, including spending by households, rose 3.3 percent and fixed investments grew 1.2 percent. Slovenia, which reports GDP next month, contracted 0.8 percent in the fourth quarter,

“The breakdown of the GDP figures is a very positive surprise,” said Piotr Bujak, an economist at Bank Zachodni WBK, by phone. “It shows that the Polish economy is weathering the global crisis pretty well.”

The zloty rose to 4.4747 against the euro from 4.5237 yesterday.

The rest of the article can be read here


Re: NEWS Poland Posted Second-Fastest EU Growth

Q4 2009 could be a disaster though.
Watch rising stock markets this summer, and the crash in August. The dollar will do a mirror - falling until August, then rising.
Czary mary

Re: NEWS Poland Posted Second-Fastest EU Growth

Eurostat put Polish growth at 1.9%

However, foreign owned companies which invested in Poland have started to re-patriate all their profits to support the parent companies. Poland is paying the pensions of France Telecom, for example!! Bloodsucking foreigners (though actually we need more of them to invest in Poland)