Poland: Business confidence retreats on deteriorating expectations for the future
November 26, 2013
The general business climate index deteriorated in November and fell to minus 3.1 points according to the Central Statistical Office's Business Tendency Survey (GUS-BTS). The figure was down from the minus 1.0 points registered in October and moved further away from the zero-point threshold that separates pessimism from optimism. The index has been in pessimistic territory since July 2012.
Businesses' expectations regarding their enterprises' general economic situations fell into negative territory and their outlook on future financial situations deteriorated further compared to last month. In contrast, businesses were less pessimistic about both their current economic and financial situations. Overall, the November survey suggests optimism with regard to the current business environment, but growing uncertainty regarding conditions in the future.
FocusEconomics Consensus Forecast panelists expect fixed investment to decline 2.4% in 2013, which is down 0.1 percentage points from last month's estimate. For 2014, the panel sees fixed investment expanding 3.4%, which is up 0.1 percentage points from last month's forecast.
Author: Carl Kelly, Economist