Poland: Business sentiment drops further into pessimistic terrain in November
Manufacturing-sector business confidence fell again in November, according to the business tendency indicator released by the Central Statistical Office (GUS). November’s business climate indicator dropped to minus 3.3 from minus 1.9 in October. The indicator thus fell further below the zero mark that distinguishes pessimism from optimism in the manufacturing sector, where it landed in October for the first time since December 2016.
November’s slump came on the back of a notable deterioration in businesses’ expectations, while their assessments of current conditions were mixed. Firms’ expectations regarding the future general economic situation of the enterprise and orders books declined notably, while projections of their production levels took a dive. Moreover, their outlook on their future financial conditions and on employment also turned more negative. With regard to their current conditions, firms reported that the general economic and financial situation of the enterprise as well as their order books worsened somewhat, while their production levels improved, albeit only to a smaller extent.