Polish economic growth slows to 2.4 percent in Q2

WARSAW, Poland (AP) ? New data show the Polish economy grew 2.4 percent year-on-year in the second quarter, a sharper slowdown than experts had expected.

The economy grew 4.3 percent in 2011 before slowing to 3.5 percent year-on-year in the first quarter of this year. Several economists and the central bank head had predicted that second quarter growth would come in higher, at around 2.9 percent.

Poland, the largest of the ex-communist countries to join the European Union in past years, has enjoyed fast growth since entering the bloc in 2004 thanks to an inflow of EU subsidies and foreign investments. It was the only EU country to avoid recession during the crisis of 2008-09.

Poland is expected to keep growing through 2013, though at a much more modest level.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/f70471f764144b2fab526d39972d37b3/Article_2012-08-30-Poland-Economy/id-a34f1a951c0b4b298d607dec522ecfe7

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