Poland: Business confidence erodes further in September
In September, the business tendency indicators released by the Central Statistical Office (GUS) showed a further moderation in business confidence in the manufacturing sector. September’s business climate indicator dropped from 9.9 in August to 8.8, the weakest reading of the year but still sharply higher than the indicator’s long-run average. As a result, business confidence remained well above the zero-point mark that distinguishes optimism from pessimism in the manufacturing sector.
September’s deterioration saw weaker assessments of both the current and future economic situation. Most pressingly, firms’ views on their future output, order books and employment were hit. Moreover, assessments of their future financial situation became less rosy. On the other hand, firms became more upbeat on current business prospects.