5.8%
4.3%
3.7%
3.3%
2.8%
2.7%
1.7%
0.8%
food and non-alcoholic beverages
cost of housing (rent and utilities)
restaurants and hotels
health
other goods and services
alcoholic beverages and tobacco products
education
home furnishings
recreation and culture
clothing and footwear
7.2%
communications
7.6% transport
Economic Monitor
-0.8%
-1.1%
Source: Central Statistical Office (GUS) Fig. 15. Changes in prices of selected consumer goods and services in 2011M4, Mt/Mt-12
materials and oil on global markets. So far the rise has not been neutralised to any significant extent by changes in the exchange rate of the zloty. Source: www.nbp.pl
Compared to 2011M4, the three indices changed respectively by -0.33%, 0.03% and 1.89%. Among the companies listed on the main market, 130 recorded a positive rate of return. Source: www.gpw.pl
The decision to raise the central bank interest rates means the continuation of the Council’s policy to restrict lending activity for businesses. The Council points to the continued relatively fast increase in mortgage loans for households coupled with a drop in consumer credit. In 2011M4 the seasonally adjusted M3 money supply fell by 0.9% compared to the previous month. At the same time, growth in this monetary aggregate slowed in year-onyear terms. In 2011M4 the M3 money supply was higher by 9.1% than a year earlier versus 10.9% a month earlier (non-seasonally adjusted data). In 2011M3 the seasonally adjusted M1 money supply (latest data) was by 1.8% higher than in 2011M2. The rate of its change in year-on-year terms was 17.8% and was higher than in the previous month. Source: www.stat.gov.pl
Almost half of all WSE indices were lower at the end of 2011M5 than at the end of 2011M4. WIG20 gained 19.30% compared to 2010M5. WIG-CHEMIA recorded a high increase of 130.12% year on year and 11.00% month on month. WIG-PALIWA rose by 39.65% compared to a year earlier and by 0.83% compared to a month earlier. WIGBUDOWNICTWO dropped in year-on-year and month-on-month terms by respectively 23.81% and 1.89%. The WIG-Ukraine index is the first and only index outside Ukraine composed exclusively of Ukrainian companies. The decision to launch the index was a consequence of the rising number of Ukrainian issuers on WSE. Source: www.gpw.pl
At the end of 2011M5 the WIBOR interest rates were 4.45% (WIBORM3) and 4.36% (WIBORM1). Source: wibor.money.pl
At the end of 2011M5 the WIG-Ukraine index comprised the following companies: Kernel, Astrada, Mililand, Agroton, Sadovaya, KSG Agro and Industrail Milk Company.
Trends on the Warsaw Stock Exchange
Balance of payments
On May 4, 2011 the Warsaw Stock Exchange launched the WIG-Ukraine national index. At the end of 2011M5, the WIG20 blue-chip index stood at 2,903.61 points, the WIG broad-market index at 50,025.61 and WIG-BANKI at 7,112.78.
Preliminary data from the National Bank of Poland (NBP) indicate that in 2011M3 there were drops on the balance of payments current account, capital account and financial account.
X :: Polish Market :: 7–8/2011
In 2011M3 the current account balance was negative at EUR-1,376 million, which represented a decrease of 67.6% compared to a year earlier – in 2010M3 the current account balance totalled EUR-821 million. In 2011M3 the balance on goods was EUR-715 million, which represented a drop by 70.6% compared to a year earlier. In 2011M3 the value of goods exports was estimated to be EUR11,122 million and the value of goods imports EUR11,837 million, up by 4.7% and 7.2% year on year. The balance on services was positive and amounted to EUR386 million, which represented a rise by 21.4% compared to 2010M3 when it stood at EUR318 million. The balance on services was positive thanks to a positive balance on transport services (EUR211 million), foreign travel (EUR135 million) and other services (EUR40 million). Source: www.nbp.pl The balance on current transfers decreased by 46.3% from EUR521 million in 2010M3 to EUR280 million in 2011M3. Income on the current transfers account amounted to EUR565 million, down by 30% compared to 2010M3, while expenditure amounted to EUR285 million, down by 0.3% compared to 2010M3. The balance on income was negative at EUR-1,327 million, with a positive balance on employee wages (EUR98 million) and a negative balance on investment (EUR1,425 million). The size of the negative balance on income was influenced by income of non-residents from interest on debt securities (EUR278 million) and from interest on credit (EUR191 million). Source: www.nbp.pl There was a drop on the capital account balance by 46.2% year on year. In 2011M3 the balance amounted to EUR280 million against EUR396 million a year earlier. Revenue on the capital account amounted to EUR224 million and was lower by 46.0% than in 2010M3 when it stood at EUR415 million. Expenditure on the capital account amounted to EUR11 million, down by 42.1% compared to 2010M3. In 2011M3 the financial account balance improved by 116.9% from EUR1,583 million in 2010M3 to EUR3,434 million. Polish direct investment abroad dropped significantly – by 201.4% - compared to 2010M3 and amounted to EUR-838 million. Foreign direct investment in Poland amounted in 2011M3 to EUR1,458 million, against EUR1,280 million