Poland: Business confidence records worst reading since March, turns more pessimistic in October
Business confidence fell to minus 6.3 in October from minus 3.6 in September. October’s result marked the worst reading since March. As a result, the index still lies below the 0-threshold, and indicated increased pessimism among businesses.
October’s deterioration was largely attributed to firms’ pessimistic assessment of the current economic situation. However, their appraisal of current orderbooks and production grew less pessimistic. With regards to expectations, businesses turned more negative over future production, while expectations over orderbooks and employment turned bleaker compared to the prior month. Moreover, expectations for the future general economic situation grew more pessimistic.