Poland: Business sentiment recovers some lost ground but remains abysmal in May
Manufacturing-sector business confidence recovered some lost ground in May, although it remained deeply entrenched in pessimist terrain due to measures to contain the spread of Covid-19. According to the business tendency indicator released by Statistics Poland. May’s business climate indicator rose from April’s all-time low of minus 44.2 to minus 34.9 in May. The indicator therefore remained below the zero mark that distinguishes pessimism from optimism in the manufacturing sector.
May’s rise came on the back of an improvement in businesses’ expectations of future conditions more than offsetting a deterioration in businesses’ assessment of current conditions. Businesses’ expectations regarding the future general economic situation, employment, production levels and orders books all improved although remained deeply entrenched in pessimistic territory. On the other hand, their assessments of the current general economic situation, order books, production levels and of their financial situation dived further into negative terrain thus logging new all time-lows.