Poland: Business confidence improves in October
October 25, 2013
The general business climate index improved in October and rose to minus 1.0 points, according to the Central Statistical Office's Business Tendency Survey (GUS-BTS). The figure was up from the minus 1.8 points registered in September and approached the zero-point threshold that separates optimism from pessimism since it fell into pessimistic territory over a year ago.
Businesses were less pessimistic about the current state of their financial situations and about the state of the economy. In contrast, expectations for businesses' future financial situations fell further into negative territory and the outlook on the economic situation deteriorated. Businesses were less pessimistic regarding current domestic and foreign orders and their perceptions in terms of production as it stands jumped into positive territory. However, their views of the outlook in terms of orders and production fell into negative territory. Overall, the October figures suggest optimism with regard to the current business environment, but uncertainty regarding conditions in the future.
FocusEconomics Consensus Forecast panelists expect fixed investment to decline 2.0% in 2013, which is down 0.1 percentage points from last month's estimate. For 2014, FocusEconomics Consensus Forecast panelists see fixed investment expanding 3.3%, which is up 0.3 percentage points from last month's forecast.
Author: Carl Kelly, Economist