Poland: Business confidence rises for third straight month in March
March 26, 2013
According to the Central Statistical Office's Business Tendency Survey (GUS-BTS), the general business climate index rose for the third consecutive month to minus 6.4 points in March. The figure was up from the minus 8.0 points seen in February and represented the highest level observed in six months. Despite the increase, the index remains below the zero-point threshold that separates pessimism from optimism for the ninth month in a row. Moreover, at the current level, business confidence is now 5.8 points below the level observed in the same period last year.
In general, businesses were mostly pessimistic about their current financial situation as well as regarding their order books. On the other hand, respondents were optimistic regarding expected production levels.
FocusEconomics Consensus Forecast panellists expect fixed investment to decline 0.6% in 2013, which is down 0.4 percentage points from last month's estimate. For 2014, FocusEconomics Consensus Forecast panellists see fixed investment expanding 4.2%.