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.