Poland Business Confidence


Poland: Business confidence falls in September

September 22, 2014

The general business climate index published by the Central Statistical Office’s Business Tendency Survey (GUS-BTS) dropped from 5.1 points in August to 2.7 points in September. The figure marked the lowest level since February 2014. The index is still above the zero-point threshold that separates optimism from pessimism.

September’s fall in confidence was driven by decreases in all the categories that compose the index. Firms’ perceptions of their current general economic situations deteriorated and their views regarding their current financial situations were also more negative. In terms of forward-looking categories, firms’ expectations regarding their future economic situations as well as their outlook in terms of the financial situation in the coming months were both much more pessimist than in the previous month. Expectations regarding future production, order books and employment also deteriorated. Overall, after a slight improvement in August, September’ business confidence continued the downward trend that began in April 2014.

FocusEconomics Consensus Forecast panelists expect fixed investment to expand 5.6% in 2014, which is unchanged from last month’s estimate. For 2015, the panel sees fixed investment expanding 6.2%.

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Poland Business Confidence Chart

Poland Business Confidence September 2014

Note: Value of month-on-month business confidence index. An index value above 0 indicates a positive assessment of the business climate while a value below 0 indicates a negative assessment.
Source: Central Statistical Office (GUS).

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