In May, the index of the assessment of current economic situation reached a historic high – such are the indications of the Entrepreneurs’ Optimism Index, based on a survey conducted among members of Employers of Poland.
In May 2015, the Index had a value of 108.8 points with regards to the assessment of current business situation compared to 105.8 point in April. The prognosis for the next six months improved as well, rising from 129.7 to 130.3 points.
Main indications of the Entrepreneurs’ Optimism Index – figures from May 2015
After a six-month period of uninterrupted growth the current economic situation index reached an all-time high. Now only 13 percent of companies indicated that they are worse off than they were the month before, Growing optimism means that a further increase in investment can be expected, which in turn is connected to job creation. If this positive dynamic is maintained, the 3.5 percent year-to-year GDP growth barrier may be breached.
The data pertaining to the condition of business in the next six months are also a cause for optimism. This index only grew by 0.6 point, while for example in April it grew by 8.6 points, but this is the first time it has maintained a value of around 130 points for more than a month, which indicates great optimism among entrepreneurs. As much as 48 percent of companies expect their market situation to improve in the next half a year.
The IT and communication sectors are the biggest optimists. The reinvigorated transport sector is showing relatively good results, although in this case the assessment is only moderately positive. Retail sales and services are doing quite well, while industry – mining and shipyards in particular – is in a standstill and is pessimistic about its perspectives. The current business climate is assessed most harshly by the finance sector, although it expects a radical improvement in the coming months. In spite of the not exactly great current situation construction companies are very optimistic. This may be related to the expectation that public investments co-financed by European funds from the new financial perspective will start soon.
Assessment of the current business situation Assessment of the business situation in the next six months