Poland: Business confidence falls to 12-month low in December
December 22, 2014
The general business climate index swung from plus 1.7 points in November to minus 2.5 points in December, according to the Central Statistical Office’s Business Tendency Survey (GUS-BTS). December’s figure came in below the zero-point threshold that separates pessimism from optimism and marked the lowest reading since December 2013.
December’s strong decline reflected a broad-based deterioration. Firms’ expectations for the general economic situation in the next 12 months, as well as for their own financial situations dropped notably in December. Expectations for future employment, order books and production also declined significantly. Firms were more pessimistic regarding the current situation of the general economy as well as their own economic situations. December’s result continued the nearly-uninterrupted downward trend that began in April 2014.