Bloomberg News

Polish Confidence Falls for 4th Quarter, Central Bank Says

October 21, 2011

(Updates with details of survey from second paragraph.)

Oct. 21 (Bloomberg) -- Polish companies are less confident about their business prospects for the fourth quarter, even after output and capacity utilization remained high in the third, the Warsaw-based Narodowy Bank Polski said.

The business-outlook index dropped to 8.9 points, down 3.3 percentage points from both the previous month and a year earlier, the central bank said today on its website. The bank surveyed 1,227 companies, of which 75.1 percent called their situation “very good, or good,” down from 75.5 percent in the second quarter.

Weakening demand, unpredictable commodities prices and a volatile zloty exchange rate “were mentioned most often as main the reasons for difficulties,” the bank said, adding that “growing concern about the future economic situation” also played a big role.

European leaders, due to meet in Brussels on Oct. 23, are racing to find a solution to a debt crisis that has pushed Greece to the brink of default and is now threatening banks across the 17-nation euro area, which buys 55 percent of Polish exports. German business confidence fell to a 16-month low in October, the Munich-based Ifo institute said today.

--Editors: Andrew Langley, Alan Crosby

To contact the reporters on this story: Dorota Bartyzel in Warsaw dbartyzel@bloomberg.net

To contact the editor responsible for this story: Balazs Penz at bpenz@bloomberg.net


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