Poland's economy expanded at a faster pace in the fourth quarter helped by a sharp increase in investment, data released by the statistical office showed Thursday.
Gross domestic product (GDP) increased 4.3 percent on an annual basis in the fourth quarter, faster than the previous quarter's 4.2 percent growth. Economists expected the rate of expansion to ease to 4.1 percent. In the second quarter, the economy grew 4.6 percent year-on-year.
Gross fixed investment climbed 10.3 percent annually during the the fourth quarter, contributing significantly to the overall growth. Domestic demand advanced 3.3 percent during the three-month period, while private consumption expenditure increased by 2 percent annually.
Sequentially, GDP grew a seasonally adjusted 1.1 percent in the final three months of 2011, faster than the 1 percent growth recorded in the third quarter.
In 2011, the economy expanded at the fastest pace in three years. GDP expanded 4.3 percent, faster than the revised 3.9 percent growth in 2010 and 1.6 percent rise in 2009.
Poland has remained resilient to threats from the region's deepening debt crisis and a fall in external demand. The country's exports remained strong helped by a weaker zloty.
by RTT Staff Writer
For comments and feedback: email@example.com