Poland: Business confidence rises in August
August 26, 2014
The general business climate index increased in August to 5.1 points according to the Central Statistical Office’s Business Tendency Survey (GUS-BTS). The figure was up from the 4.5 points registered in July and marked the first gain after three months of decline. As a result, the index is slightly further above the zero-point threshold that separates optimism from pessimism, where it has remained all year.
August’s rise in confidence was driven by increases in a majority of categories that make up the index. Firms’ perceptions of their current general economic situation improved and their views of their current financial situation were much less negative. In terms of the forward-looking categories, firms’ expectations regarding their future economic situation improved moderately, although their outlook in terms of the financial situation in the coming months was down a notch. Expectations regarding future production, order books and employment tallied gains. Overall, the August survey suggests that firms have a more positive outlook regarding the business environment in which they will be operating in the coming months.
Author: Carl Kelly, Economist