The Polish activity figures for December were weaker than November’s data, but most of that can be explained by working-day effects. Our Tracker suggests that the economy grew by a strong 4.8% y/y or so in Q4. That would be broadly in line with Q3’s outturn and would mean that the economy expanded by around 4.5% over 2017 as a whole – the best annual performance since 2011.
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