Poland: Business confidence climbs to four-year-high in April
April 24, 2014
The general business climate index improved again in April and jumped to 9.3 points according to the Central Statistical Office's Business Tendency Survey (GUS-BTS). The figure was up from the 5.1 points registered in March and marked the highest point since April 2010. The index crossed the zero-point threshold that separates optimism from pessimism in January after having been below zero since July 2012, and it has been on an upward trend ever since.
April's rise in confidence was driven by an improvement in firms' current economic outlook and expectations for future economic conditions. Businesses' perceptions regarding the general economic situation jumped into optimistic territory, while perceptions of their current financial situations were less pessimistic relative to March. Firms' expectations regarding the future economic situation and the outlook in terms of their financial situation in the coming months strengthened. Expectations regarding future production and order books also increased. Overall, the April survey suggests that firms have a positive outlook regarding the business environment in which they will be operating in the coming months.
FocusEconomics Consensus Forecast panelists expect fixed investment to expand 3.7% in 2014, which is up 0.4 percentage points from last month's estimate. For 2015, the panel sees fixed investment expanding 6.0%.
Author: Carl Kelly, Economist