Poland’s GDP likely grew 3.5% y/y in 2015

Poland's GDP is likely to have grown 3.5% y/y in 2015 from 3.3% y/y in 2014. Private consumption expenditure and gross fixed capital formation, which grew 3.1% y/y and 6.9% y/y respectively, are expected to be the most significant factors of GDP growth for the whole of 2015. Both factors show the positive condition of the real economy. Net exports are also likely to contribute positively, around 0.5pp, to growth. Meanwhile, changes in inventories contracted and contributed negatively to GDP growth.