The value of the IRG SGH and BARIRG barometer in the third quarter of 2022 is -16.2 points, by 10.9 points. less than in Q2 this year. Compared to the third quarter of 2021, the barometer value decreased by 14.3 points.
“An analysis of the changes in the barometer value shows that the Polish economy is in a slowdown phase. Entrepreneurs feel the increasing limitations of business activity more and more. In industry, they mention the unstable legal regulations and tax burdens resulting from successive amendments to the Polish Order. For construction entrepreneurs, the most felt barrier is the increase in the prices of raw materials and materials “- it was written in the commentary to the study.
“Entrepreneurs from industry and construction are feeling more and more problems with the availability of loans and unfavorable terms of their servicing. The pessimistic mood is intensified by the war in Ukraine. There is uncertainty among entrepreneurs and consumers about the near future, especially concerns about the future financial situation, which will worsen due to rising inflation, “he added.
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According to the authors of the study, the value of the BARIRG barometer is 10 points. lower than the average for this time of year.
“The greatest downturn took place in the processing industry and the banking sector. The downturns in these sectors amounted to 15.3 and 23.7 points, respectively. They accounted for over 70% of the barometer drop. In other sectors, the declines were smaller. The business climate index in construction decreased by 4.8 points, in trade by 6.3 points, while the household condition index decreased by 5.3 points.“- indicated in the report.
Compared to the third quarter of the previous year, the value of the BARIRG decreased by 14.3 points, and the greatest drops in the values of the indicators concerned the condition of households (a decrease by 21.7 points) and the economic situation in industry (a decrease by 14.7 points). ).
“Together, they account for almost 72% of the barometer value drop. The annual economic climate index in construction decreased by 8.4 points, in trade by 11.5 points, and in the banking sector by 7.1 points.” – it was written.