The BARIRG business climate barometer increased by 2.4 points q/q to minus 2.4 points in Q3 2021, the Institute for Economic Development of the Warsaw School of Economics (SGH IRG) reported. It is higher than the value from the previous year by 16.2 points. The forecasts for the fourth quarter indicate a slowdown in the pace of economic recovery.

"At the beginning of the third quarter of 2021, both the IRG SGH business tendency barometer (BARIRG) and the business tendency indicators in all sectors of the economy covered by the IRG research, apart from trade, increased their values. However, gains are lower than in the previous quarter, and the sentiment of entrepreneurs and consumers is deteriorating," the report reads.

The greatest positive impact on the increase in the value of the barometer in this study was exerted by the increases in the value of business climate indicators in the banking sector (by 9.4 points) and construction (by 7.9 points) and contributed to the increase in the value of the barometer by 1.35 and 1, respectively.

The Institute noted that the period of economic recovery in the processing industry, lasting from November last year, has ended. In July, the value of the index decreased by 7.5 points compared to June, and compared to April 2021 it is higher by 1.5 points, and the annual increase was 15.4 points.

“Entrepreneurs signal a further increase in the nuisance of barriers to business activity. For the first time in the history of the survey of the economic situation in the processing industry, the main barrier is the lack of a qualified workforce, as reported by 85 percent of the surveyed enterprises. Problems with the supply of raw materials and materials are also increasing. They are reported by 78 percent of respondents,” the Institute emphasized.

(Inwestycje.pl)