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Polish manufacturers upbeat about outlook for business


2010-12-05



Polish manufacturing firms have grown even more upbeat about the outlook for their business and are now the most optimistic in the EU, according to the latest edition of Global Business Outlook Survey for Worldwide Manufacturing and Services, a periodic report by KPMG. This came as manufacturing sentiment in most countries covered by the survey deteriorated compared with June.

The study shows that almost 65% of manufacturers in Poland expect a rise in activity during the next 12 months, with the net balance of optimists less pessimists (i.e. those predicting a decline over this period) at +53.2 p.p. in October, up from +46.5 p.p. four months earlier and compared with the EU average of +39.4 p.p. It is also the highest result since 2007. According to Leszek Wronski, partner and head of KPMG’s business advisory services unit in the CEE region, the high level of optimism reflects the robust recovery observed in most of Poland’s manufacturing sub-sectors since late 2009, and the country’s manufacturers are now enjoying probably the best growth prospects in Europe.

As for the component indicators, the proportion of manufacturers in Poland expecting a rise in orders during the coming year, at 57.1%, outnumbered those anticipating a decline by 44.2 p.p. (up from +42.3 p.p.), while for the projected level of revenues the balance was +40.3 p.p., up from +36.6 p.p. Both results were above the EU average (+38.3 p.p. and +36.9 p.p., respectively).

The balance for rising profits was slightly smaller at +26 p.p., down from +26.8 p.p., but well above the EU average of +19.7 p.p.

At the same time, however, companies in Poland have grown more cautious about investing (+11.7 p.p., down from +23.9 p.p. and below the UE average of +12.9 p.p.) and job creation (+11.7 p.p., down from 18.3 p.p. and broadly in line with the EU average). KPMG commented that Polish manufacturers are now focusing more on improving capacity utilisation, with the balance at +45.5 p.p., higher than in any other EU country.

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



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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.