Law / Poland economy is slowing down - how does it affect you? [117]

Experts are warning that Polish economy is losing its impetus which so far has made Poland a green island in recession-stricken Europe.

November 2009



It seems the global crisis which has evaded us so far is knocking on the door.

Poles have become very careful with the money they spend. I can see it in my clients who, to my surprise, turned into stubborn negotiators. It has never happened in my long teaching career. I am seriously considering lowering my prices in order to keep the amount of classes I have had so far.

PS. BTW, any idea how much does a maid in a 5-star hotel in Krakow make from basic salary and tips? I am negotiating a contract with a group of maids and neither would like to screw them nor be screwed myself.

wbj.pl/article-60170-polish-economy-slowing-down.html

Polish GDP grew by 2.4 percent in Q2 of 2012, accordign to figures released on Thursday by Poland's Central Statistics Office. The Ministry of Economy had forecasted a growth of 2.9 percent in Q2 of 2012. Marek Belka, the head of the National Bank of Poland had also recently predicted Q2 GDP growth at roughly 3 percent. The Polish economy grew 4.3 percent in 2011 before slowing to 3.5 percent y/y in Q1 2012.

polstock.pl/headline_details/polish_economy_slows_in_q2_to_ below_expectation_24_annual_rate/en/613

Poland's economy disappointed in the second quarter, slowing to a below-expectation 2.4% annual growth rate with domestic drivers nearly absent despite the Q2 culmination of Poland's Euro2012 preparations. Finance Minister Jacek Rostowski admitted the figures are "disappointing," but dared venture that Q3 growth will not slow down any further. A senior official at the Central Statistical Office (GUS), however, openly expressed fears that growth rates will fall further in Q3 and Q4.

newsroom.nordeamarkets.com/en/2012/08/30/poland-bitterly-disappoi nting-gdp-figures/

GDP growth in Q2 proved much weaker than expected, slowing down to 2.4% y/y from 3.5% in Q1 (our forecast was 2.8% and market consensus 2.9%). Domestic demand dropped 0.2% y/y after 2.7% rise in Q1. A part of this is due to destocking (change in inventories had negative contribution of 1.5%-point in Q2 after positive contribution of 0.8%-point in Q1), which is unlikely to be continued on a large scale in next quarters. However, key components of domestic demand bitterly disappointed, indicating that underlying trend in economic activity is weaker than expected.

Life / Poland's concord of cultures [86]

After a great success of the following thread

Brits had their Mini Morris 15 years before.

The Mini is a small economy car that was made by the British Motor Corporation (BMC) and its successors from 1959 until 2000. The original is considered a British icon of the 1960s,[3][4][5] and its space-saving front-wheel drive layout - allowing 80 per cent of the area of the car's floorpan to be used for passengers and luggage - influenced a generation of car makers.[6] The vehicle is in some ways considered the British equivalent of its German contemporary the Volkswagen Beetle, which enjoyed similar popularity in North America. In 1999 the Mini was voted the second most influential car of the 20th century, behind the Ford Model T.[7][8]

Children in Poland and US (probably UK too) liked to watch slide films on home projectors. I remember those shows as one of the happiest moments in my childhood. I will tell you my secret: today, I recreate those moments reading slide films to my kids on weekend evenings.

Polish slide film projector, late 1950s: