PMR Online access    |   tel. +48 12 340 51 00    |   E-mail:


BIEC: economic climate improves in March


The Leading Indicator (WWK), which provides information on future trends in the economy, gained 1.8 points in March, reversing around half of its last month’s fall, the Bureau for Investments and Economic Cycles (BIEC) reported. Despite the improvement, there is a growing question mark over the prospect for economic growth accelerating further in the months ahead, the Bureau commented.

Of the eight component indicators of the WWK, four improved in March, one remained unchanged while three deteriorated. The biggest contributor to the monthly gain was a sharp rise in labour productivity, helped by slower wage growth; there were also (small) improvements in managers’ assessments of their companies’ financial situation and the general economic outlook, as well as a slight increase in household debt (reflecting, however, mainly currency movements). At the same time, new manufacturing orders fell again (though some sectors, such as cars and electrical equipment, reported moderate increases), which the Bureau considers as the chief source of concern for the future. This led to a further rise in inventories of finished goods (one notable exception being makers of investment goods, who reported a fall in stocks). Inventories have been growing at an accelerated pace since the start of the year.

The WWK is a prognostic instrument. It is a measure of the current state of economic activity and provides advanced information on upturns and downturns in economic activity in relation to GDP as well as data on production, retail sales, wages and household incomes. The average prognostic timeframe of the WWK index in relation to the actual state of economic affairs ranges from 3 to 12 months, depending on the phase of the economic cycle.

Browse and search in our archive »

subscribe to PMR RSS NEWS channelsSubscribe to PMR RSS NEWS channels »

Free monthly e-letter containing latest news, analyses and business information on economic situation in Poland, Russia, Bulgaria, Czech Republic, Hungary, Romania, Slovakia, Ukraine, Kazakhstan.
Relevant news

Useful links         Privacy Policy
Copyright © 2018 PMR. All rights reserved.

PMR is a British-American company providing market information, advice and services to international businesses interested in Central and Eastern Europe as well as other emerging markets. PMR key areas of operation include business publications (through PMR Publications), consultancy (through PMR Consulting) and market research (through PMR Research). With over fourteen years of experience, high international standards in projects and publications, highly skilled multilingual staff and a wide network of co-operating research companies and market experts, PMR is one of the largest companies of its type in the region.