Poland's gross domestic product (GDP) in volume terms seasonally unadjusted was higher by 10.9% in the 2nd quarter of 2021 year-to-year against 8.3% decrease in the corresponding period of 2020 - according to a flash estimate issued by Statistics Poland (GUS).
"In the 2nd quarter of 2021 seasonally adjusted GDP (constant prices, reference year 2015) was higher by 1.9% than in the previous quarter and 10.7% higher than in the 2nd quarter of the previous year," Poland's official statistical institution announced in a statement on Friday.
"Seasonally unadjusted GDP (constant average prices of the previous year) was higher by 10.9% than in the corresponding quarter of the previous year," we read.
"The data is preliminary and can be subject to revision, in accordance with the revision policy of quarterly national accounts, in the first "regular" estimate of GDP for the 2nd quarter of 2021 which will be released on August 31, 2021," GUS said.
According to Santander Bank experts, Polish economy has not seen such a high increase since GUS started to publish data of this kind in 1995.
Inflation goes up by 5%
According to Statistics Poland, "consumer prices according to the flash estimate in July 2021, compared with the corresponding month of the previous year, increased by 5.0% (price index 105.0)". Compared to the previous month prices increased by 0.4%.
This means that consumer prices in Poland increased to level last seen over 10 years ago.
Last time when consumer prices went up by 5% was in May 2011.
Źródło: TVN24 News in English, Statistics Poland, TVN24 Biznes
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