Poland's monthly business climate index MIK down to 101.7 pts in March - PIE
Poland's monthly business climate index MIK, measuring the economic sentiment of businesses in Poland, has fallen by 1.2 points to 101.7 points in March, according to a survey conducted by the Polish Economic Institute PIE.
In contrast, the current value of the MIK is higher than last year's March reading (by 0.6 points). The index is still above 100 points, indicating an advantage for positive sentiment over negative sentiment among businesses.
"The March MIK score above the neutral value (100 points) was driven by three components: employment, wages and liquidity. The readings for them are above the neutral level. In addition, the month-on-month values of the indicators: employment, production capacity and liquidity increased," the institute wrote.
The survey indicates that there were also positive month-on-month changes for the two components of the MIK (liquidity, employment), whose index value is above the neutral level (100.0 points).
"The persistent values of the indicators for the liquidity and employment components above the neutral level confirm the favourable economic situation of the surveyed companies and their willingness to maintain employment levels, despite the high wage costs," they added.
The indicators of the four components of the MIK (sales value, new orders, investments, production capacity) are below the neutral level. For each of them (except for the production capacity indicator) declines were recorded month-on-month.
The level of the production capacity index (97.2 points) indicates that it is still too high with the order book in place and changes in demand forecast for the coming month.
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