Poland Q2 GDP Contracts Less Than Estimated
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Poland's gross domestic product (GDP) fell 2.1% sequentially in the second quarter, reversing a 2.5% growth in the first quarter, figures from the Central Statistical Office (GUS) showed on Wednesday.
The second quarter figure was revised from a 2.3% fall reported initially on August 17.
On a yearly basis, GDP growth eased notably to 4.7% in the June quarter from 9.2% in the March quarter. In the initial estimate, the rate of expansion was 4.5%. Seasonally unadjusted GDP also grew at a slower pace of 5.5% annually versus an 8.5% increase in the previous quarter. The latest figure was revised up from 5.3%.
Separate flash data from the Warsaw-based statistics agency showed, that consumer price inflation climbed to 16.1% in August from 15.6% in July. The upward trend in inflation was largely driven by a 40.3% jump in energy prices. This was followed by a 17.4% surge in prices of food and non-alcoholic beverages.
On a monthly basis, consumer prices rose 0.8% in Augu st versus an expected increase of 0.2%.
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