Poland: Business confidence records worst reading in six months in November
Manufacturing-sector business confidence came in at minus 20.5 in November, down from October’s minus 9.7 and marking the worst result since May. As a result, the index fell further below the 0-threshold, and indicated pessimism among businesses.
November’s downturn reflected a broad-based downturn, likely owing to increased Covid-19 uncertainty. Firms’ assessment of the future general economic situation as well as their personal financial situation turned markedly more negative in November. Moreover, their future expectation of order books, production levels and employment also turned notably more pessimistic compared to the previous month. In addition, firms’ perception of the current economic situation, order books, production levels, and personal financial situation deteriorated significantly in November.