17:00 29 September 2020
Post by: WBJ

Return to pre-pandemic growth path not possible soon

Leading Business Climate Index (WWK), informing in advance about trends in the economy, did not change its value in September compared to the previous month, the Bureau of Investments and Economic Cycles (BIEC) reported. According to analysts, returning to the growth path from before the pandemic does not seem possible this year.

As BIEC emphasized, the economy has partially recovered from its sudden halt, but it may take several years to achieve the 2017-2018 growth rate. BIEC indicated that out of the eight components of the HCI, four were heading towards its decline this month, three - towards its growth, and the impact of one component was neutral.

Compared to August - experts emphasized - slightly fewer enterprises reported an increased inflow of orders. 

"The improvement is noted mainly by large companies employing over 250 employees. Small and medium-sized companies are still struggling with the falling rate of their inflow," they noted.

They added that large differences are also visible in terms of industries.

"While furniture and car manufacturers have experienced a clear improvement in recent months, manufacturers of other means of transport and the clothing industry are still struggling with a decline in orders," BIEC stressed.



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