The Polish economy grew 5.1 percent in the final quarter of 2017, the country’s Central Statistical Office (GUS) said on Wednesday in a flash estimate that pointed to the best result in almost ten years.

The reading was close to what analysts expected.

Polish GDP grew 4.6 percent in the whole of 2017, the statistical office said in a flash estimate in late January.

In 2016, Poland’s economy expanded by 2.9 percent, the office noted.

Polish GDP grew 4.9 percent in the third quarter, and 4.0 percent year on year in the second quarter.

“I can say that domestic demand has [had] a positive impact on the GDP results in the fourth quarter. Thanks to consumer and investment demand ,” Maria Jeznach of the Central Statistical Office was cited as saying by the money.pl website.

The European Commission earlier this month upgraded its forecast for Poland's 2018 GDP growth to 4.2 percent from a previous projection of 3.8 percent.

The World Bank in January upgraded Poland's 2018 GDP growth forecast to 4 percent from a previous projection of 3.6 percent.

(pk/gs)

Source: IAR