Economic condition outlook indicator WWK decreased by 1.4pps m/m in June to 152.8pts, according to a report of the Office for Investments and Economic Cycles (BIEC). The indicator has been in an upside trend since the autumn of 2012, heralding gradual economic revival, it added.
However, BIEC stressed that the recovery was still in an stage, accompanied by weak domestic and external demand as well as strong price competition. The analysts noted that due to a 1.5-year-long period of PPI deflation, enterprises' revenue is growing less rapidly than production costs. This translates into delayed profits, prompting firms to put off investments and job creation, BIEC concluded.
The analysts also pointed to the second month of new orders' limitation (in the case of both export and domestic orders) as the most worrisome factor. They also underlined that entrepreneurs are slightly less optimistic as for economic outlook than a month before.
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