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Investment outlays up by 12% y-o-y in Q1-Q3


In the first three quarters of 2011 large and medium-sized companies employing 50 or more people reported investment outlays of just under PLN 62.3bn (approx. €15.5bn), which translates into a real-terms increase of 12% compared with the same period a year earlier, according to the Central Statistical Office (GUS). By way of comparison, in H1 investments were up by 9% y-o-y.

Expenditures on machinery, technical equipment and tools – the largest category representing almost 48% of the total – rose 15% y-o-y in Q1-Q3, while outlays on buildings and structures (38% of all investments) went up by 3.5% y-o-y. Investments in transport equipment (13% of the total) jumped by 30.9% y-o-y.

Of the main sectors of the economy (for which GUS reports data in nominal terms), the biggest increases in investment expenditures occurred in transportation and storage (up by 46.7% y-o-y) and in mining-quarrying (up by 36.6% y-o-y). In the construction sector investments went up by 16.7% y-o-y and in manufacturing by 10.4% y-o-y. A major drop occurred in water supply, sewerage, waste management and remediation activities (down by 39.9% y-o-y). Investment outlays were also lower in real estate activities (down by 7.7% y-o-y) and in trade and repair of motor vehicles (down by 2.8% y-o-y).

As for the country’s manufacturing sub-sectors, the highest increase occurred in the manufacture of vehicles, trailers and semi-trailers (up by 69% y-o-y) and in tobacco products (up by 66.8% y-o-y). In three other sectors outlays grew by around 40% y-o-y in January-September: in other non-metallic mineral products they were up by 39.7% y-o-y, in rubber and plastic products by 38.5% y-o-y, and in basic metals by 37.2% y-o-y. On the other hand, in the manufacture of coke and refined petroleum products investments plummeted by 58% y-o-y; several other sectors saw single-digit declines.

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