Poland Business Confidence July 2020


Poland: Business sentiment recovers further ground but remains pessimistic in July

July 23, 2020

Manufacturing-sector business confidence recovered some additional ground in July, although it remained deeply entrenched in pessimist terrain. According to the business tendency indicator released by Statistics Poland, June’s business climate indicator rose from June’s minus 19.9 to minus 10.5. The indicator therefore remained below the zero mark that distinguishes pessimism from optimism in the manufacturing sector.

July’s rise came on the back of an improvement in both businesses’ expectations of future conditions and businesses’ assessment of current conditions. Businesses’ expectations regarding the future general economic situation, employment, production levels and orders books all improved considerably although remained entrenched in pessimistic territory. Additionally, their assessments of the current general economic situation, order books, production levels and of their financial situation recovered significant terrain, although they also remained in negative terrain.

FocusEconomics Consensus Forecast panelists expect fixed investment to fall 7.2% in 2020, which is down 3.1 percentage points from last month’s estimate. For 2021, the panel sees fixed investment expanding 4.9%.

Author: Massimo Bassetti, Senior Economist

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Poland Business Confidence Chart

Poland Business Confidence July 20 20

Note: Value of month-on-month business confidence index. An index value above 0 indicates a positive assessment of the business climate while a value below 0 indicates a negative assessment.
Source: Statistics Poland.

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