Poland: Business confidence climbs to three-and-a-half-year high in March
March 25, 2014
The general business climate index improved again in March and rose to 5.1 points according to the Central Statistical Office's Business Tendency Survey (GUS-BTS). The figure was up from the 2.5 points registered in February and marked the highest point since September 2010. The index crossed the zero-point threshold that separates optimism from pessimism in January after having been below zero since July 2012. March's rise in confidence was driven by an improvement in expectations for future conditions. Firms' expectations regarding the general economic situation and their outlook regarding their future financial situations improved relative to February. Expectations regarding future production and order books also increased. Businesses were somewhat less pessimistic about their current and financial situations. Overall, the March 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