Poland: Business confidence falls to nine-month low in October
October 28, 2014
The general business climate index dropped from 2.7 points in September to 2.1 points in October, according to the Central Statistical Office’s Business Tendency Survey (GUS-BTS). The figure marked the lowest level since January 2014, although the index is still above the zero-point threshold that separates optimism from pessimism.
October’s fall was driven by firms’ deteriorating expectations for the general economic situation in the next 12 months, as well as for their future financial situations, and for their future domestic and foreign order books. Firms were also more pessimistic in terms of both future production and employment. Conversely, businesses’ perceptions of their current situations improved somewhat compared to last month. October’s result continued the nearly-uninterrupted downward trend that began in April 2014.