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Financial News: Poland GDP Growth Likely To Accelerate In Q1:

Poland GDP Growth Likely To Accelerate In Q1: Capital Economics

04/24/2017 - 07:49:00 (RTTNews)

(RTTNews) - Poland's economic growth is likely to improve strongly in the first quarter on the back of higher industrial production and retail sales and a revival in construction, Liam Carson, an economist at Capital Economics, said.

Official data revealed that industrial production growth quickened markedly to a six-year high of 11.1 percent in March from 1.2 percent in February.

Construction output rebounded markedly by 17.2 percent annually in March, following a 5.3 percent fall in February. The recovery suggest that last year's slump caused by a decline in EU structural fund inflows may be over, the economist said.

Retail sales growth also strengthened in March, with the annual increase rising to 7.9 percent in March from 5.2 percent a month ago.

Retail spending continues to be supported by fiscal stimulus and improvements in the labor market, Carson noted.

Citing these data, Carson said the economy could have expanded by as much as 4.5 percent year-over-year in the first quarter, up from 2.7 percent in the final three months of 2016.

"For now, we are sticking with our above-consensus growth forecast of 3.5% over 2017," the economist said.

"But, if anything, the strength of the monthly activity data means the risks may be skewed to the upside."

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