Poland: Business confidence drops in June
In June, the business tendency indicators released by the Statistical Office (GUS) showed a further moderation in business confidence in the manufacturing sector. May’s business climate indicator dropped from May’s 15.7 to 13.3, the weakest reading of the year but still sharply higher than the indicator’s long-run average. As a result, business confidence remained well above the zero-point mark that distinguishes optimism from pessimism in the manufacturing sector.
June’s deterioration saw weaker assessments of both the current and future economic situation. Although firms viewed current output and order books with more optimism, they took a more downbeat view of each in the future. Meanwhile, firms’ views on both finances and employment worsened in the month.