Investment outlays down by 9.4% y-o-y in Q1-Q3

2009-11-27

Large and medium-sized companies employing 50 or more people reported investment outlays of just over PLN 64.3bn (approx. €14.7bn) in the first nine months of 2009, which in real terms translates into a decline of 9.4% y-o-y, according to the Central Statistical Office (GUS).
Expenditure on machinery, plant and equipment – the largest category representing about half of the total – contracted by 10.5% in comparison with the corresponding period of the previous year. Outlays on buildings and structures (nearly 41% of all investments) increased by 2.1% y-o-y. On the other hand, investments in transport equipment slumped by over 38% y-o-y.
Of the main sectors of the economy, the largest drop in investment outlays (by 19.9% y-o-y) was noted in information and communication activities. Significant falls (by over 13% y-o-y) were also observed in transportation and storage, real estate activities and accommodation and catering. On the other hand, in mining and quarrying investments jumped by 18.6% y-o-y in Q1-Q3. At the same time, outlays in the manufacturing sector declined by 8.8% y-o-y.
In the case of the country’s manufacturing sub-sectors, the highest growth in capital expenditure (by 101.2% y-o-y) was achieved by producers of coke and refined petroleum products. Substantial increases were also noted in the computer, electronic and optical products sub-sector (up by 28.2% y-o-y) and in the manufacture of paper and paper products (up by 24.6% y-o-y). On the other hand, manufacturers of textiles and producers of wood, cork, straw and wicker products cut investment expenditure by over half.
By way of comparison, in 2008 investment outlays grew by 8.7%.