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Keralla: mood sours in SME sector as Euro 2012 bounce wears off


Sentiment in the Polish SME sector has dropped back to where it was in the first quarter of 2012, as the surge of enthusiasm related to Euro 2012 proved short-lived, according to a quarterly survey by Keralla Research. With margins under growing pressure, the country’s SMEs are more likely to cut jobs to reduce costs during the present quarter, the report says.

KERNA, Keralla’s composite indicator of SME sentiment, slumped by 15.7 points to -72.9 points in Q3, dragged down by sharply bleaker assessments of the outlook for own business (down by nearly 30.5 points). The sub-indicator of perceptions of the general economic outlook fell by 17.5 points.

However, the ZAIR index, which measures anticipated investments, decreased by only 1.9 points to -70.7 points, which according to Keralla indicates that investments will remain at a similar level in Q4.

According to the vast majority of the respondents (78%) Euro 2012 has had a neutral impact on their business, and few expect it to have a beneficial effect on the international standing of Polish goods.

The survey was conducted in July 2012. It is based on interviews with a representative sample of 600 companies employing less than 250 people.

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