Poland: Business confidence dips slightly in March
March 25, 2019
Manufacturing-sector business confidence lost some ground in March, according to the business tendency indicators released by the Central Statistical Office (GUS). March’s business climate indicator dipped to 6.8 from 7.3 in February, roughly in-line with the indicator’s long-run average. 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.
March’s moderation was due to firms’ declining optimism regarding the current general economic and financial situation. On the other hand, firms’ forward-looking views on the general economic situation jumped, in line with sizable gains for output and order-book prospects, as well as with firms’ more optimistic expectations of the future financial situation. Employment prospects, meanwhile, improved somewhat. Moreover, firms’ assessments of present production levels get rosier, as did their assessments of their current order books.