Business tendency in manufacturing, construction, trade and services - November 2023

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In November the assessments of general business climate indicator in most of presented kinds of activities are at a similar or higher level as compared to the ones presented in October. In the case of seasonally adjusted data, majority of these kinds of activities assess it more favourably than in the previous month. In all areas, except for retail trade, the indicator is below the long-term mean[1]. In most of areas, month-to-month level of both "diagnostic" and "forecasting" components increases or remains unchanged.

Only entities from financial and insurance activities section (plus 17.8) as well as information and communication section (plus 13.5) assess business tendency as positive[2], however below the long-term mean (plus 25.7 and plus 18.1 respectively). The most pessimistic assessments are made by entities from manufacturing section (minus 12.1) along with construction section (minus 10.2).

In the current month – answers provided between 1st and 10th of each month – supplementary set of questions has been added to the survey. This particular set aims to additionally diagnose the impact of war in Ukraine on business tendency and raises the issue of investments (results in table 2).

1 Long-term mean (arithmetic mean for each general business climate indicator) covers time series since 2000, apart from services (since 2003) and wholesale trade (since 2011).

2 By the phrase „positive” (positive value of the indicator) we consider a situation when percentage of entrepreneurs expecting improvement of their entities’ economic situation in the next three months or observing such an improvement outweighs percentage of entrepreneurs expecting its deterioration.

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