No correction needed

Following a very good December, particularly on the Warsaw Stock Exchange, it would have been justified to expect some kind of correction. On the contrary, January and the first half of February enjoyed undisturbed growth and the WIG index even came close to its 2015 peak in mid-February, while the WIG20 has been approaching its highest level of 2016. This was all accompanied by a 50 pct growth in turnover on the previous year! The larger investors, mainly funds that are increasing the proportion of Polish shares in their portfolios as they turn to emerging markets, were followed by individual investors, who in a January survey turned out to be more optimistic than they have been since April 2015 (only 22 pct expected the indexes to decline, while over 60 pct expected growth). There is much evidence that foreign investors are looking to invest in the Polish economy, which in spite of the slightly lower growth rate in 2016 compared to expectations (2.8 pct) – is still one of the m