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Poland's economic growth accelerates

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Poland's economic growth accelerates

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Poland’s economy grew faster than expected in the second quarter of this year.

It expanded by 3.5 percent year-on-year.

That was better than economists’ forecasts of 3.2 percent and an improvement on the three percent growth between January and March.

Importantly, the rise was underpinned by domestic demand which grew 3.9 per cent.

Analysts said that bodes well for the economy’s resilience and makes an interest rate hike more likely later in the year.

Exports in the first half surged almost 29 percent year-on-year, helped by the relative weakness of the Polish currency, the zloty, against the euro and the dollar.

About a quarter of Polish exports go to Germany, Europe’s strongest economy.

Imports into Poland jumped 18.2 percent.