Poland: Business confidence drops to lowest level in more than three years
October 26, 2012
According to the Central Statistical Office's Business Tendency Survey (GUS-BTS), the general business climate index fell to minus 10.7 points in October, down from the minus 6.1 points seen in September, thus reaching the lowest level in 43 months. As a result, the index remained below the zero-point threshold that separates pessimism from optimism for the fourth month in a row. Moreover, at the current level, business confidence is now 9.6 points below the level observed in the same period last year. In general, businesses were mostly pessimistic about their domestic and foreign order books as well as their expected ability to pay current debts. On the other hand, respondents were mostly optimistic regarding the expected selling prices of their products.