Poland: Business confidence inches up in July but remains pessimistic
July 24, 2013
The general business climate index increased slightly in July, rising to minus 4.1 points, according to the Central Statistical Office's Business Tendency Survey (GUS-BTS). The figure was up slightly from the minus 4.2 points registered in June. The index has sat below the zero-point threshold that separates pessimism from optimism for over a year.
While businesses were somewhat less pessimistic about their own financial situations and the state of the economy as it currently stands, their outlook for those indicators deteriorated. They also felt more pessimistic about both domestic and foreign orders as well as future production. The July figures showed limited improvements over June, painting an overall pessimistic picture of the business climate.
FocusEconomics Consensus Forecast panellists expect fixed investment to decline 1.6% in 2013, which is down 0.2 percentage points from last month's estimate. For 2014, FocusEconomics Consensus Forecast panellists see fixed investment expanding 3.4%.
Author: Carl Kelly, Economist