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Polish manufacturers positive about outlook for business


Polish manufacturing firms remain highly upbeat about near-term prospects, with the twelve-month outlook for business activity in the sector down somewhat since winter 2010 but otherwise at its second-highest since summer 2007, according to the spring edition of Global Business Outlook Survey, a thrice-yearly report from KPMG.

The percent balance of manufacturing firms in Poland predicting activity growth during the next 12 months – i.e. the proportion of companies expecting an increase in activity less those expecting a decrease – stood at +50.6 points in the latest survey, compared with +53.2 in winter 2010. Because in the EU manufacturing sector business confidence surged to +51.7 from +39.4 over this period, Poland slipped from first place to slightly below the EU average.

Of the component indicators, the outlook for new business edged up by 0.5 to +44.7, the highest since January 2008; the net balance for employment improved by almost five points and, at +16.5, was at its second-highest since July 2007; the outlook for capital expenditures surged to +27.1 from +11.7; while the outlook for R&D spending was up by 1.9 to +18.8.

On the other hand, the outlook for revenues posted a drop to +35.3 from +40.3, amid weaker expected increases in output prices; and the outlook for profits also deteriorated, partly due to higher anticipated increases in input prices. The net balance for capacity utilisation dropped to +38.8 from +45.5.

The report is based on a survey of around 11,000 manufacturers and service providers. The latest data were collected in February.

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