Poland: Business confidence weakens in May
June 24, 2011
According to the Central Statistical Office's Business Tendency Survey (GUS-BTS), the index for the expected general business climate declined from 4.2 points registered in May to 3.1 points in June. Despite the drop, the index remains above the zero-point threshold separating pessimism from optimism for a fifth consecutive month. Compared to the same period last year, businesses were less optimistic as the index dropped 3.1 points. The deterioration in the sentiment gauge reflected falling optimism among businesses regarding their expected level of production as well as domestic and expected foreign order-books. On the other hand, businesses were more optimistic regarding current order-books and less pessimistic about their ability to pay current debts.