Panattoni’s new logistics hub for Amazon, mixed Q3 results and PISA rankings
Panattoni Europe announces the completion of a mega four-storey logistics centre for Amazon, economic growth dampens in Q3 while domestic demand and exports grow, and Polish 15-year-olds make Europe’s top four in PISA rankings over all subjects.
Micro Bite: Panattoni Europe announces the completion of a mega four-storey logistics centre for Amazon in Gliwice
Last Thursday, Panattoni Europe, one of Europe’s largest industrial real estate developers, announced that it had delivered a mega four-storey logistics hub for Amazon in Gliwice in the south of Poland.
At 210,000 sqm and fitted with Amazon Robotics technology, the facility will be Amazon’s largest e-commerce logistics centre in Poland, where 3,900 transport robots will help to process orders for the entire European market. The facility in the Katowice Special Economic Zone is Panattoni’s eighth project for Amazon and is expected to create a reported 1000 jobs.
The US e-commerce behemoth has continued to expand its presence in Poland after opening two new fulfilment centres in the Łódź region earlier in November. According to Amazon, it has already invested 14bn zł in seven logistics centres and research facilities, employing over 16,000 full-time workers.
“Poland was the first country in Europe where we launched Amazon Robotics technology, back in September 2015,” noted Marian Sepesi, Regional Director at Amazon.
Meanwhile, Panattoni Europe revealed on Monday that it is launching its first office in the Netherlands, the second-largest warehouse market in Europe. This venture pushes the company’s reach in Europe to seven markets with its operations already covering Poland, Germany, the United Kingdom, the Czech Republic and Slovakia.
Macro Bite: Economic growth dampens in Q3 while domestic demand and exports grow
Statistics Poland (Główny Urząd Statystyczny: GUS) released a mixed bag of national economic data for Q3 last week. A slowdown in economic growth and total investment was recorded for the quarter, while domestic demand and exports grew.
For the first time since Q4 2016, the Polish economy grew by less than 4% over a single quarter, recording 3.9% YoY growth for Q3 2019, down from 4.6% in the last quarter. Total investment grew below market expectations with 4.7% YoY growth. Economists from mBank suggested that the dip in investments was possibly due to spending cuts by local governments and uncertainty arising around the impending close of the current EU funding cycle. A more promising sign was that most of the investment growth came from the private sector.
On the other hand, total domestic demand grew by a respectable 3.9% YoY (similar to Q2), with household consumption increasing by 3.9% and public demand by 4.7%. Exports rebounded from Q2 to register 5% YoY growth for the quarter.
“The global downturn is starting to take its toll on economic growth in Poland,” Bank Pekao economist Adam Antoniak told the Polish Press Agency (Polska Agencja Prasowa: PAP). “Weakening foreign demand and uncertainty about the outlook for economic growth translate into negative business confidence and the willingness of businesses to invest.”
The latest economic data prompted Mbank Research to drop its 2020 growth forecast from 3.2% to 2.8%. Bank Pekao, however, has revised its forecast to only 3.4%, with domestic demand predicted to be shored up in 2020 through increases in welfare payments and a drop in the lowest personal income tax rate from 18% to 17%, which came into effect in October.
Nano Bite: Polish 15-year-olds make Europe’s top four in PISA rankings in all subjects
The results are in and Polish teens have something to brag about – their high scores in science, mathematics and reading comprehension place them among the best-performing countries in Europe and the world. The Programme for International Student Assessment (PISA), organised by the OECD, was released this week and the results of the 2018 report showed that 15-year-olds in Poland scored higher than the OECD average in all three subjects.
Here’s the breakdown: in science, Poland ranked 3rd in Europe and 11th in the world. In mathematics, it ranked 3rd in Europe as well and 10th in the world. And in reading, the country ranked 4th in Europe and 10th in the world again.
To put this into perspective, 85% of students in Poland obtained Level 2 or higher in reading. In comparison, over 85% of students in Canada, China, Finland and Singapore performed at this level or above. In mathematics, around 85% of students in Poland reached a Level of 2 or higher, while the average across the OECD was 76%. A similar trend was reported in science with 86% of students in Poland scoring at Level 2 or higher, which puts Poland among high achievers in China and Singapore.
In 2017, the Polish government overhauled the education system and eliminated middle schools (gimnazjum). The new changes came into effect in Autumn 2019, meaning three years will need to pass before the next PISA results can reflect performance under the new system.
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