Enterprises surveyed by the National Bank of Poland (NBP) in March do not expect any acceleration of the current economic revival in Q2 of 2014, but they deem a significant improvement in the economic situation will come near the end of 2014, according to a survey based on a poll among 1371 firms from all sectors of the economy.
The indicator on forecasts of enterprises' economic situation (seasonally adjusted) fell by 4.6pps q/q to the level equal to its long-term average, i.e. by 3.5pps above the level of Q1 of 2013, the central bank reported
It also noted that the slight worsening of current assessments may be partly attributed to a correction of overly optimistic assumptions from the previous quarter and partly - to a rise of anxiety related to the development of the Ukrainian-Russian crisis.
Nonetheless, the enterprises' sector situation has been gradually improving and longer-term forecasts are also better than in previous quarters, the central bank concluded.
The survey also showed that enterprises are more eager to start new investments than in the previous quarter, albeit the pace of investors' confidence improvement is weaker than in Q4 of 2013. The new investments indicator grew by 0.6pps q/q and by 1.8pps y/y to 22.6%, but is still below its long-term average.
NBP also reported that among the polled firms, 12.7% declare they plan to increase their workforce in Q2 of 2014, while 10.0% plan layoffs.