12:58 28 March 2020
Business Leading Indicator drops in March: BIEC
Business Leading Indicator (WWK), informing in advance about future trends in the economy, fell in Poland by 2.6 points m/m in March to 163.3 points, but these data are from before the outbreak of the coronavirus pandemic, the Investment and Economic Cycles Office (BIEC) reported.
“It should be noted that most of the data (with the exception of the WIG index) refers to the situation before the epidemic. Even the data from the CSO business climate survey, although referring to March, are collected by the 10th of each month. Therefore, they do not take into account the situation that prevailed in the country after the pandemic was announced. In this situation, the indicator refers to the trends in the economy that were present prior to the outbreak of the coronavirus,” the BIEC wrote.
The authors of the report suggested that if you compare the impact of the current pandemic with the effects of wars, then generally after a sharp breakdown, there was a period of rapid recovery from the post-war crisis and such a scenario is possible in the near future.
(PAP)
