Poland: Business confidence ticks down in May
In May, the business tendency indicators released by the Statistical Office (GUS) showed a further moderation in business confidence in the manufacturing sector. May’s business climate indicator dropped from April’s 16.8 to 15.7, the weakest reading of the year but still sharply higher than the indicator’s long-run average. As a result, business confidence remained well above the zero-point mark that distinguishes optimism from pessimism in the manufacturing sector.
May’s broad-based deterioration saw weaker assessments of both the current and future economic situation. Across each timeframe, firms grew less optimistic about the economy, their order books and output. Meanwhile, firms’ views on both finances and employment worsened in the month.