Macroeconomic Forecast Poland

Poland's industrial output came in 14.5% y-o-y higher in June, suggesting that economic activity is well on the way for a sizeable expansion in 2010. The reading is in stark contrast to the 15.3% y-o-y contraction seen in January 2009, at the height of the global economic downturn. The good print underlines our expectations that domestic economic growth will pick up in 2010, with real GDP forecast to expand 3.4%.

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