Poland: Business sentiment hits 11-month low, turns more pessimistic in November
Business confidence tumbled to minus 10.5 in November from minus 6.3 in October. November’s result marked the worst reading since December 2020. As a result, the index still lies below the 0-threshold, and indicated increased pessimism among businesses.
October’s deterioration was largely attributed to firms’ markedly more pessimistic assessment of the current economic situation, while their appraisal of current orderbooks and production also grew more pessimistic. With regards to expectations, businesses turned more negative over future production, while expectations over orderbooks and employment turned bleaker compared to the prior month. Moreover, expectations for the future general economic situation grew more pessimistic.