Poland: Business confidence shoots up in May
May 24, 2013
According to the Central Statistical Office's Business Tendency Survey (GUS-BTS), the general business climate index rose for the fifth straight month in May, improving to minus 1.4 points. The figure was up from the minus 5.8 points seen in April and represented the highest level observed in 11 months. Despite the increase, the index remains below the zero-point threshold that separates pessimism from optimism for the 11th month in a row. In addition, business confidence is now 1.8 points below the level observed in the same period last year.
In general, businesses were mostly pessimistic about their current financial situation. On the other hand, respondents were optimistic regarding expected production levels.
FocusEconomics Consensus Forecast panellists expect fixed investment to decline 0.9% in 2013, which is down 0.1 percentage points from last month's estimate. For 2014, FocusEconomics Consensus Forecast panellists see fixed investment expanding 3.9%.