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Poland Business Confidence June 2019

Poland: Business at eight-month low in June

Manufacturing-sector business confidence lost some further ground in June, according to the business tendency indicators released by the Central Statistical Office (GUS). June’s business climate indicator dropped to 5.2 from 6.2 in May, the weakest reading in eight months. Although business confidence has deteriorated significantly since mid-2018, the indicator has remained above the zero-point mark that distinguishes optimism from pessimism in the manufacturing sector.

June’s moderation came on the back of a broad-based deterioration in business expectations, while their assessments of the current situation was mixed. Firms’ forward-looking views on production grew notably less optimistic, in line with less rosy order-book prospects. Moreover, firms were slightly less positive regarding the future general economic situation and their future financial situation. That said, firms had more upbeat expectations of future employment prospects. As for the current situation, firms had worse assessments of the current general economic situation, and of current order books. On the other hand, their assessments of present production levels improved, as did their assessments of their financial situation.

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