NBP: Polish firms' situation in Q3 heralds significant economic revival

By bne IntelliNews December 20, 2013

The data and analyses concerning the financial situation of the Polish enterprise sector in Q3 of 2013 suggest a significant economic revival in this period, according to a report by the National Bank of Poland (NBP).
The positive developments in Q3 included: rising dynamics of revenue (especially in exports), improved results on sales, rising share of profitable enterprises as well as higher spending on fixed assets, the central bank notes.
Overall, revenue rose by 2.3% y/y, chiefly thanks to revenues from exports (up by 12.6%), but also higher dynamics of domestic sales, which increased in annual terms (by 0.2%) for the first time in three quarters. All in all, 54.7% of enterprises increased their domestic sales, while sales growths were reported by 59.2% of exporters.
Investment outlays grew by 5.2% y/y in Q3 of 2013, but NBP admits that their scale and range remain low. At the same time, the optimistic aspect is the fact that more and more branches have been reporting positive dynamics of investment outlays, the central bank concluded.

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