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Investment outlays down by 10.6% y-o-y in Q1-Q3


Large and medium-sized companies employing 50 or more people reported investment outlays of just over PLN 55.8bn (approx. €13.9bn) in the first three quarters of 2010, which in real terms translates into a decline of 10.6% compared with the same period a year ago, according to the Central Statistical Office (GUS). In the first half of the year the fall was steeper, by 17.7% y-o-y.

Expenditure on machinery, plant and equipment – the largest category representing almost half of the total – contracted by 13.6% versus January-September 2009. Outlays on buildings and structures (roughly 40% of total investments) were down by 13.3% on a year earlier. By contrast, investments in transport equipment jumped by 20.6% y-o-y.

Of the main sectors of the economy, the largest drops in investment outlays were noted in manufacturing (down by 25.9% y-o-y), mining-quarrying (down by 22.9% y-o-y), and trade and repair of motor vehicles (down by 21.1% y-o-y). Double-digit declines also occurred e.g. in construction and in information and communication activities. On the other hand, in electricity, gas, steam and air conditioning supply investments rose by 14.4% y-o-y, in accommodation and catering by 12.2% y-o-y, while in water supply, sewerage, waste management and remediation activities they were up by 11.1% y-o-y.

As for the country’s manufacturing sub-sectors, two industries, i.e. basic metals and coke and refined petroleum products, reported declines in investments of more than 50% y-o-y, while in two others (wearing apparel and computer, electronic and optical products) investments plunged by well over 40% y-o-y. Most other sub-sectors experienced double-digit falls. By contrast, in textiles manufacturing investment outlays surged by 48.5% y-o-y in Q1-Q3. Four other sectors reported increases, i.e. the manufacture of tobacco products (up by 19.9% y-o-y), food products (up by 10.6% y-o-y), wood, cork, straw and wicker products (up by 7.5% y-o-y) and leather and related products (up by 1.4% y-o-y).

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