Poland: Business confidence records worst reading since November 2020 in March
Business confidence fell to minus 16.2 in March from February’s minus 10.7, thus marking the worst reading since November 2020. As a result, the index moved further below the 0-threshold, signaling increased pessimism among businesses.
March’s deterioration was largely attributed to firms’ turning more pessimistic regarding the current economic situation, while their appraisal of current orderbooks and production also grew slightly bleaker. With regards to expectations, businesses turned more negative over future production, while expectations over orderbooks and employment were more pessimistic compared to the prior month. Moreover, expectations for the future general economic situation grew markedly more pessimistic.