All of the big ticket items that Poles never had before are still being purchased,
I am not quite sure about that pip, the Poles have taken to credit like a duck takes to water, this is what is driving purchases.Warsaw is also the epicenter of Yuppies in Poland, " all flash no cash mostly " although I am not disputing there are some very wealthy Poles in Warsaw especially in Zoliborz. If you did an audit on the majority of people in Warsaw, I am convinced the credit to debit ratio would be above 60% now, if as some are suggesting the value of real estate goes down after Euro 2012 by 10-20% then we are up to 70/80%
There is also a strong desire for foreign companies to invest still- they haven't saturated the market yet.
This has been based on Poland being the only Oasis in Europe during the previous crisis, we have since found out that mistakes were made and the figures revised, so it was not as good as first reviewed. Further more most companies that are setting up shop in Poland now are looking at Eastern markets. It is not a foregone conclusion these markets will open up fully, it is still work in progress.Crucial steps in overcoming the predicted slowdown in the Polish construction industry - October 2011
This autumn business confidence index in the Polish construction sector fell to a level previously seen in the spring of 2009. The sentiment among market participants was adversely affected by such factors as continued uncertainty in financial markets, most projects for Euro 2012 reaching completion, required cuts in public sector investment spending and the lack of clear signs of recovery in private investment. However, companies mention numerous factors facilitating doing business in the construction industry in Poland.
The results of a survey of high-level professionals from the management and operating divisions of 200 largest Polish construction companies, which was conducted for the purpose of the report “Construction sector in Poland H2 2011 – Comparative regional analysis and development forecasts for 2011-2014” show a sharp downturn in business sentiment in the construction industry in Poland. PMR Business Confidence Indicator for the construction industry had a value of -2.4 pts in September 2011, demonstrating that construction companies were significantly less optimistic as to the present and future situation in the sector after two years of relative stabilisation.Poland faces economic slowdown: experts
Poland faces an economic slowdown in 2012 due to the deepening global crisis and much in this respect will depend on foreign markets, economic experts said Monday at a conference hosted by the Lewiatan employers confederation.
According to Lewiatan's observers, Poland's industrial sales were going down, as was foreign demand for Polish products and the inflow of foreign investment to the country.
They also warned that Poland's trade deficit was oscillating strongly and less and less companies were willing to take credit.