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KPMG: weaker sentiment in manufacturing sector


Sentiment in Poland’s manufacturing sector has deteriorated considerably since late 2011, but remains better than the EU average, according to the latest edition of Global Business Outlook Survey for Worldwide Manufacturing and Services, a periodic report by 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 – declined to +34.5 points in February from +47.7 points in October and was at its lowest level in two years. The average for the European Union is +30.5 points.

The proportion of firms in Poland planning to add jobs during the next 12 months fell to 28.7% from 34.9% four months earlier, while the percentage of those planning to cut jobs more than doubled to 20.7%. As a result, the balance of employment expectations narrowed to +8 points from +25.6 points, which however was still above an EU average of +4 points. In most Western European economies the balance improved, albeit from a low base, which suggests that the next survey, due in June, will probably show a similar rebound in Poland, KPMG reckons.

Similarly, the perceived outlook for capital expenditure deteriorated in Poland, to +9.2 points from +25.6 points. The EU average was +8 points.

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

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