Poland: Business confidence reaches 32-month low in December
December 27, 2011
According to the Central Statistical Office's Business Tendency Survey (GUS-BTS), the general business climate index fell from minus 4.2 points in November to minus 6.9 points in December, reaching the lowest level since April 2009. As a result, the index remained below the zero-point threshold separating pessimism from optimism for the third consecutive month, suggesting deteriorating prospects for fixed investment going forward. Compared to the same period last year, business confidence is now 8.3 points lower. In general, businesses were mostly concerned about expected domestic and foreign order books as well as expected production. On the other hand, businesses were most optimistic regarding the evolution of prices for their products.