Poland: Business confidence falls to ten-month low in November
November 25, 2014
The general business climate index dropped from 2.1 points in October to 1.7 points in November, according to the Central Statistical Office’s Business Tendency Survey (GUS-BTS). The figure marked the lowest level since January 2014 and is gradually approaching the zero-point threshold that separates optimism from pessimism.
November’s decline was mainly driven by firms’ deteriorating expectations for the general economic situation in the next 12 months, as well as for their future financial situations. Firms also showed more pessimism regarding future order books, production and employment. Conversely, firms were more optimistic regarding their current situations. November’s result continued the nearly-uninterrupted downward trend that began in April 2014.