Poland Shows Strong Q1 Growth

Poland’s state statistical office says the economy grew by a robust 4% in the first quarter of 2017 compared with the same period last year, AP reported. The estimate, released Tuesday by the Main Statistical Office, is not adjusted for seasonal variations and is due for revision at the end of the month. The statistical office said that compared with the previous three months, the economy grew 1% in the first quarter. Economy and Finance Minister Mateusz Morawiecki attributed the growth to consumer optimism, stronger investment and government policies. The government has launched a program of social benefits that has fueled consumer demand. Last week, Moody’s upgraded Poland’s credit outlook to stable, from negative, while maintaining its A2 rating. The currency zloty is now trading around its strongest level against the euro since September 2015, with the euro at PLN4.188.