Poland: Business confidence dips in May
Manufacturing-sector business confidence lost some ground in May, according to the business tendency indicators released by the Central Statistical Office (GUS). May’s business climate indicator dropped to 6.2 from 8.0 in April, the weakest reading in five months. Although business confidence has deteriorated significantly since mid-2018, the indicator has remained above the zero-point mark that distinguishes optimism from pessimism in the manufacturing sector.
May’s moderation came on the back of a broad-based deterioration in business expectations, while their assessments of the current situation improved. Firms’ forward-looking views on the general economic situation grew less optimistic, in line with less rosy output and order-book prospects, as well as with firms’ less upbeat expectations of the future employment prospects. Moreover, firms were slightly less positive regarding their future financial situation. On the other hand, firms had better assessments of the current general economic and financial situation, while their assessments of present production levels, and of domestic and foreign order-books were broadly unchanged.