Poland: Business confidence declines in November
November 22, 2010
Business confidence in the manufacturing sector fell slightly in November, but has remained relatively stable since February 2010. According to the Central Statistical Office's Business Tendency Survey (GUS-BTS), the industry index for the expected general business climate decreased from 4.0 points in October to 2.7 points in November. Despite the drop, the general business climate remained above zero, which marks the threshold between pessimism and optimism in the index for the eleventh consecutive month. The deterioration in the sentiment gauge reflects falling optimism among businesses regarding the situation of Poland's economy in the short run. The survey respondents were particularly concerned about expected declines in the production and foreign order-books. However, the robust economic performance observed in the third quarter may positively influence business sentiment for the next reading in December.