Poland: Business confidence hits seven-month high in April
Manufacturing-sector business confidence gained ground in April, according to the business tendency indicators released by the Central Statistical Office (GUS). April’s business climate indicator rose to 8.0 from 6.8 in March, the strongest reading since September of last year. Although business confidence has deteriorated significantly since mid-2018, the indicator has remained above the zero-point mark that distinguishes optimism from pessimism in the manufacturing sector.
April’s increase came on the back of a broad-based improvement in business assessments and expectations. Firms had better assessments of the current general economic and financial situation, as well as of domestic and foreign order-books and of present production levels. Moreover, firms’ forward-looking views on the general economic situation grew rosier, in line with some gains for output and order-book prospects, as well as with firms’ more optimistic expectations of the future employment prospects. On the other hand, firms were slightly less optimistic regarding their future financial situation.