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Polish Construction Industry Value Increases at 3.93% CAGR During 2008-2012

Research and Markets has announced the addition of the "Construction in Poland - Key Trends and Opportunities to 2017" report to their offering.

The Polish construction industry increased in value at a compound annual growth rate (CAGR) of 3.93% during the review period (2008-2012). The commercial and infrastructure construction markets drove this growth. European Union (EU) funds and the 2012 UEFA European Championship supported the infrastructural improvements. The Polish economy demonstrated strong resilience during the financial crisis due to strong domestic demand and consumption, and a flexible currency. Poland was the only country in Europe to avoid the recession in 2009. However, growth in the industry is expected to be moderate over the forecast period (2013-2017), as a result of rising unemployment rates and low wage growth. The industry is expected to record a forecast-period CAGR of 0.33%.

Key Highlights

  • Poland's GDP growth is expected to slow further to 1.4% in 2013, its lowest growth since 2002, underpinned by weaker exports demand from the Eurozone, falling consumer expenditure and fiscal tightening measures. However, the economy is expected to recover modestly from 2014 and will grow by 2.4%, supported by a gradual rise in private consumption and investment. GDP growth is expected to improve further in the remaining part of the forecast period, growing by 3.5%, mainly supported by the new EU financial framework (2014-2020).
  • Many construction companies filed for bankruptcy as a result of rising input costs. PBG SA, the third-largest construction company in Poland, was in PLN1.5 billion worth of debt and filed for bankruptcy in June 2012, the largest corporate bankruptcy. Continued deferred payments from customers and rising costs led PBG into deep financial crisis. Dolnoslaskie Surowce Skalne (DSS), a major Polish construction company which was involved in the construction of the A2 highway, also filed for bankruptcy in 2012.
  • Tourism is a key sector in Poland's economy, both in terms of contribution to GDP as well as growth in the employment rate. In 2012, the travel and tourism sector contributed 5% to the total GDP, and 4.9% to total employment.

Companies Mentioned:

  • Polimex-Mostostal SA
  • Budimex SA
  • Mostostal Warszawa SA
  • Trakcja SA
  • Mostostal Zabrze Holding SA

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