Monthly economic climate index up by 3.9pts m/m to 110.9 in August
21:40
The monthly economic climate index (MIK), which measures the sentiment of Polish enterprises, rose to 110.9 points in August from 107 points in July, the Polish Economic Institute (PIE) reported. The indicator was developed in cooperation with Bank Gospodarstwa Krajowego (BGK).
"In the August reading, all MIK components – except for investments – reached a level above the neutral reading. The highest values of the ratio were related to financial liquidity (135.6) as well as employment (116.8), and wages (109.7). Investments are the only component remaining below the neutral reading since the beginning of the year. However, the value of this indicator has been gradually increasing since May, and in the August reading, it reached the level of 93.1 points, i.e. by 19.6 points more than in July and as much as 44 points more than in May," the release reads.
Compared to July, an improvement in the results was observed in sales and financial liquidity of enterprises, while a deterioration – in the number of new orders. Production capacity remained at a similar level as in the previous month.
"In August, there was an improvement in the situation of small enterprises, which a month ago showed a reading below neutral. In their case, the reading of the economic situation increased by 11.6 points. There was also an increase among large entities (by 4.3 points) and placed them in the first place In terms of the assessment of the economic situation. We observed a deterioration in sentiment in August in medium-sized companies, however, despite the decline in moods (minus 8.4 points), they are still above the neutral reading. Micro-companies are still quite pessimistic about the economic situation," we also read.
(ISBnews)
