Poland: Business confidence declines in December
December 27, 2010
Business confidence in the manufacturing sector fell in December for the fourth consecutive month. According to the Central Statistical Office's Business Tendency Survey (GUS-BTS), the industry index for the expected general business climate decreased from 2.7 points in November to 1.4 points in December. At the current level, the index remains only slightly above zero, which marks the threshold between pessimism and optimism in the index. The deterioration in the sentiment gauge reflects falling optimism among businesses regarding the economy over the short run. Survey respondents were particularly concerned about expected declines in current production levels and the status of order-books. Going forward, growing pessimism among businesses may contribute to slowing growth in the months ahead.