Poland: Business confidence deteriorates again in December
December 27, 2013
The general business climate index deteriorated in December and fell to minus 6.4 points according to the Central Statistical Office's Business Tendency Survey (GUS-BTS). The figure was down from the minus 3.1 points registered in November and moved even further away from the zero-point threshold that separates pessimism from optimism. The index has been in pessimistic territory since July 2012.
Businesses' expectations regarding their general economic situations deteriorated in December. Their outlook regarding their future financial situations also deteriorated further compared to the previous month. Moreover, firms were more pessimistic regarding their current economic and financial situations. Overall, the December survey suggests that firms have a generally pessimistic outlook regarding both the current business environment and its conditions for the future.
FocusEconomics Consensus Forecast panelists expect fixed investment to expand 3.7% in 2014, which is up 0.4 percentage points from last month's estimate. For 2015, the panel sees fixed investment expanding 6.0%.
Author: Carl Kelly, Economist