Poland’s economy will grow at a rate of 3.5 percent in 2014 and 3.8 percent in 2015, the Institute for Market Economy Research (IBnGR) said in a statement on Tuesday.
IBnGR experts had previously forecasted a 3.1 percent growth in 2014, but wrote in their latest report that each successive quarter will show increasing growth, reaching 3.6 percent in the fourth quarter.
“From the perspective of the commercial sector the most important are consumption growth forecasts. During the whole of 2014 individual consumption growth is to reach 3.0 percent, which would be a better result than that recorded in 2012-2013,” reads the report.
“It is also worth noting that after two years of decline, the negative trends in investment demand are poised to reverse. According to the IBnGR, investment layouts will grow by 8.8 percent in 2014,” the researcher added.
CPI inflation in Poland amounted to 0.3 percent year-on-year in June, the Central Statistical Office (GUS) said in a data release on Tuesday. In month-on-month terms prices remained unchanged.
Analysts had expected the year-on-year figure to be 0.2 percent, equal to the one recorded in May.
Prices in the telecommunications sector grew the most in month-on-month terms, by 2.4 percent. Prices in entertainment and recreation grew by 0.5 percent. Factors that brought the index down were prices of food and beverages (down by 0.3 percent m/m) and of clothing and footwear (by 0.8 percent), GUS also said.
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