Poland: Business confidence approaches positive territory in August
August 26, 2013
The general business climate index increased slightly in August, rising to minus 0.5 points, according to the Central Statistical Office's Business Tendency Survey (GUS-BTS). The figure was up from the minus 4.1 points registered in July. The index has not been this close to zero-point threshold that separates optimism from pessimism since it fell into pessimistic territory over a year ago.
Businesses were less pessimistic about the current state of their financial situations and the state of the economy. Moreover, expectations for businesses' future financial situations jumped into positive territory and the outlook on the economic situation strengthened significantly. Businesses were less pessimistic regarding current domestic and foreign orders, as well as about production as it stands. They also had a more optimistic view of the outlook in those areas. Overall, the August figures showed notable improvements in the business climate.
FocusEconomics Consensus Forecast panellists expect fixed investment to decline 1.5% in 2013, which is down 0.1 percentage points from last month's estimate. For 2014, FocusEconomics Consensus Forecast panellists see fixed investment expanding 3.5%.
Author: Carl Kelly, Economist