Koniunktura w przemyśle przetwórczym

Abstract

The beginning of the year marked the lowest industrial confidence indicator (ICI) since December 2012. In the middle of the quarter some vague signs of recovery were noticed, however, in March the COVID-19 pandemic reached Poland, and, in consequence of the measures taken to prevent it from spreading around, manufacturing activity collapsed. After a decline by 2.8 pts in January and a rise by 4.8 pts in February, the indicator slumped by 18 pts in March. This is the largest monthly drop of the indicator ever recorded. In total ICI has lost 16.6 pts since December 2019, and is now 28.5 pts downfrom the March, 2019 figure. Negative cyclical factors in unison with the adverse shock to the economy reduced manufacturing production and orders. Financial situation of manufacturers worsened and their confidence wavered. It is only employment that has not been fiercely affected so far.(original abstract)