Manufacturing industry forecasts worsen in June compared to previous month

According to the Central Statistical Office (GUS) the situation in the manufacturing industry got worse in June compared to the previous month, but was better compared to June 1998 and 1999. Forecasts of the managers of industrial companies are still optimistic for the coming months, but far more cautious than in May. They also said domestic demand dropped but foreign demand substantially increased. The industrial production should increase in the next three months and the financial standing of the companies should get better, however additional layoffs should still occur. The best situation was in editing and publishing enterprises. The worst situation was in companies producing fabrics, radios and televisions and machinery. Managers of construction companies positively assessed the business activity in their sector, but the standing of the companies was worse than the previous month and in June in five previous years. The smallest companies assessed business activity as very bad and the CEO's of huge companies said it was very good. Companies employing 250 and more workers considered business activity in retail trade good. (Prawo i Gospodarka, July 8-9, page 1, 2) M.M.