Poland's economy grows 0.5% in Q2

Poland's economy grew 0.5 per cent in the second quarter of 2009, making it the only European Union member state to buck the global slump, according to official data.

"In the second quarter seasonally adjusted GDP grew by 0.5 per cent compared to the previous quarter and was 1.4 per cent higher than a year ago," the Central Statistics Bureau said.

An EU member since 2004, Poland has avoided sinking into recession as the global economic crisis torpedoed the economies of its smaller EU neighbours.

"The second quarter GDP result means Poland is the only EU state that will record growth on an annual basis," said Tomasz Bonek, editor-in-chief of Poland's money.pl, a leading economic web portal.

Poland recorded first quarter GDP growth of 0.3 per cent and was the only member of the 27-state EU to have enjoyed an expansion in that period.