Members Area

http://www.weather.com/weather/local/PLXX0028

ECONOMY

IBnGR: Poland’s GDP growth in Q2 at 3.9%

The second quarter of 2010 saw a 3.9% growth of Polish GDP while average inflation was at 2.3%, the Gdansk Institute for Market Economics (IBnGR) informed.

Deloitte: Polish SEZ 2010

Deloitte has published a report from the second edition opinion poll among entrepreneurs doing business in the Special Economic Zones (SEZ). The survey was supported by the Polish Information and Foreign Investment Agency (PAIiIZ). The analysis of the answers received indicates that zone entrepreneurs are awaiting changes that would help them to survive the hard period of economic slowdown that makes it significantly harder to meet the requirements prescribed by the permission.

EC: Poland’s Economic Sentiment Indicator up to 100.6 pts

The Economic Sentiment Indicator (ESI) for Poland improved significantly, reaching 100.6 points (+1.9 m-o-m and + 15.1 y-o-y), the Directorate-General for Economic and Financial Affairs (DG ECFIN) of the European Commission has announced.

FDI in Poland up by EUR5 m in Q1 2010

According to National Bank of Poland statistics, the amount of foreign direct investment in Poland in the first half of the year amounted to over EUR5 million, up 75% y-o-y.

Polish firm arrives in Silicon Valley

Polish company Fido intelligence is launching a branch in the Silicon Valley in the USA. The office is to be located in the Plug & Play Tech Centre. The opening of the branch was finalised by a Polish trade mission to the US organised by the Gdansk Agency for Economic Development InvestGDA and the Pomeranian Special Economic Zone.

Poland’s gas contract with Russia ‘compliant with EU law’

A contract for Russian natural gas supplies to Poland will be in compliance with EU regulations, Polish Minister of Foreign Affairs Radosław Sikorski said in Brussels.

Polish banking sector scores high profit

The net profit reported by the Polish banking sector after the first five months of 2010 came to PLN 4.5 billion. This represents a 21% growth over last year.

BIEC: economic slowdown is over in Poland

The Leading Index (LI) measuring the future activity in the economy and showing increases and decreases in the level of economic performance of the entire economy with some months ahead of the GDP grew by 1.3 points in July following a 0.3 point increase in June, the Bureau for Investments and Economic Cycles (BIEC) announced.

Polish Market

ECONOMIC MONITOR

download pdf

• ● In December 2009 and January 2010, as in previous months in the second half of 2009, the Polish economy stood out against other countries in terms of GDP growth. Poland’s economic growth was higher than projected and higher than in other European countries.
read more »

• In 2009 construction output increased by 3.7%.
read more »

• Retail sales increase in most product groups.
read more »

• On the Warsaw Stock Exchange, stock prices were very volatile in January 2010.
read more »

• At the end of December 2009 the registered unemployment rate (claimant count rate) amounted to 11.9% versus 11.4% in November.
read more »

• At the end of January the president signed the 2010 budget bill into law. The bill was adopted by the parliament on December 18.
read more »

• In the fourth quarter of 2009 the Polish economy turned out to be more resistant to the global crisis than had been projected and than the economies of Polish neighbours, something which boosts optimism in forecasts for 2010 and the next years.
read more »

PODCAST

• Storm over homoerotic art show at Warsaw’s National Museum

• Poland’s new president Bronislaw Komorowski: a pragmatic, pro-business, euroenthusiast

• Poland and OECD innovation strategy

• How to make the Polish economy more innovative?

• Flooding hits Poland again: lessons for the future

• Does Poland need IMF Flexible Credit Line extension?

WEEKLY MARKET ANALYSIS

Retail sales up again in June
Retail sales growth in nominal terms accelerated in June to 6.4% y-o-y from 4.3% y-o-y in May. The increase was higher than expected. In real terms, retail sales growth accelerated to 4.5% y-o-y from 2.0% y-o-y. June was a consecutive month with retail sales figures stronger than expected, which indicates that consumption is recovering after it slowed significantly at the beginning of the year. Private consumption is driven by an improvement on the labour market coupled with a rise in disposable incomes. In Q2 2010 retail sales grew by around 3% y-o-y in nominal terms and around 1% y-o-y in real terms. On the basis of retail sales and industrial production data, it can be estimated that the GDP growth rate was close to 3%.

MARKET INFO

Sign up to comment on articles or receive newsletter
E-mail
Password