12:53 29 March 2023
Forward Business Cycle indicator inches down by 0.8 point in March
The Forward Economic Indicator (WWK) for Poland, which provides advanced information on future economic trends, fell by 0.8 points to 154.3 points in March 2023, according to a report from the Bureau of Economic Cycles and Investments (BIEC). Economists believe that the economy continues to slow down, with falling demand, high inflation, and uncertainty making it difficult for businesses to operate. The report indicates that the pace of new orders to the manufacturing sector is declining sharply, particularly in companies producing durable consumer goods, as a direct consequence of declining domestic demand.
Despite the significant reduction in industrial production, which has been observed for nearly a year, there is a growing inventory of unsold goods in corporate warehouses. This suggests that production will continue to be systematically reduced in the near future. The report also highlights that business finances are deteriorating due to increased costs and declining sales revenues.
Source: Inwestycje.pl
