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Keralla: confidence in SME sector weakens further


2012-12-19



Sentiment in the Polish SME sector deteriorated markedly in the fourth quarter of 2012 as small and medium companies brace for a tough year ahead, according to a quarterly survey by Keralla Research.

KERNA, Keralla’s composite indicator of SME sentiment, amounted to -75.52 points in Q4, its lowest level since 2009, down by 2.6 points from three months earlier and by 10.5 points versus the same period a year ago. SMEs in Poland are grim both about the present state and outlook for the domestic economy and their own performance, and few expect a recovery during 2013. Under these circumstances, more companies are planning job cuts while investment plans are being scaled back or abandoned.

The ZAIR index, which measures anticipated investments, dropped to -74.8 points, the lowest level since the survey began. This represents a drop of 5.1 points over a year earlier and of 4.1 points from Q3. Although nearly half of the surveyed companies (49%), mostly from the manufacturing sector, said they planned some investments in Q4, the overall mood is far from expansionary.

The survey was conducted in October 2012. It is based on interviews with a nationwide representative sample of 600 companies employing less than 250 people (including microfirms).



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