Driving Engines of the Polish Economy in 2008

The growth in Polish GDP was about 4,8 per cent 2008  according to the estimates of Central Statistical Office (GUS) compared to the 6,7 per cent obtained a year before. But the rate is lower than the prognosis assumed expecting a 5,5 per cent GDP growth. For the time being there are no visible signs of recession in Poland connected to the worldwide financial crisis, but prognosis for 2009 are far less optimistic – the economic growth according to different estimates will be from about 2 per cent
to 3,9 per cent, which is much under the optimistic assumptions made in the beginning of 2009.   
 
The companies are constantly doing well, but worse than a year ago, which is reflected in a ranking called Driving Engines of the Polish Economy in 2008 classifying all companies who have made their data available for the purposes of the ranking. According to the data related to the first three quarters of 2008, about 14 per cent of 384 companies have suffered loss while a year ago this number was around 12 per cent.  The average net profit was also a bit lower compared to the companies’ average income: after three quarters of 2008 for half of the companies it was over 4,6 per cent  compared
to the 5,5 per cent a year before. It is the profit companies have made that is taken into account
in order to estimate Gross Domestic Product. So what is mainly responsible for the lower economic growth, it is the companies’ lower profits in 2008. 86 out of 373 companies who have been able
to calculate their rates of profit dynamics have suffered a fall in income compared to the period from January to September 2007. And, in the end, 12 companies have their incomes halved.

Blue Media’s results in the rankings:

Table 1

Table 2

EW