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Poland Business Confidence September 2019

Poland: Business confidence at close to three-year low in September

Manufacturing-sector business confidence fell in September, according to the business tendency indicators released by the Central Statistical Office (GUS). September’s business climate indicator dropped to 0.2 from 4.3 in August, marking the weakest reading since December 2016. Although business confidence has deteriorated significantly since mid-2018, the indicator has so far remained above the zero-point mark that distinguishes optimism from pessimism in the manufacturing sector.

September’s slump came on the back of a broad-based deterioration in both businesses’ expectations and assessments. Business assessments of the current general economic situation, their order books and production levels swung from positive to negative territory, as did expectations on their future financial situation and employment levels. Moreover, firms’ expectations were less positive regarding the future general economic situation, their production levels and orders books. Lastly, assessments of the current financial situation moved further into negative terrain.

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