Poland Insurance Report Q1 2010

2009-12-29 20:49:11 - New Financial Services market

report from Business Monitor International: "Poland Insurance Report Q1 2010"

A flash estimate provided by the Central Statistical Office shows Polish economic growth slowing to 3.0% year-on-year (y-o-y) during Q408 from 4.8% the previous quarter. We expect growth to continue slowing through 2009, with the economy likely to dip into recession during H209. Despite the deterioration in Poland's macroeconomic fundamentals, we nonetheless believe that the economy will emerge as the regional outperformer, especially compared with heavily trade dependent Czech Republic and post fiscal crisis Hungary, which will both dive deep into recession this year. According to preliminary data provided by the Central Statistical Office, the Polish economy posted growth of around 3.0% during the final quarter of 2008, bringing the full-year figure down to 5.4%, from a bumper 6.6% the previous year.

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