{"id":5753,"date":"2026-06-22T10:37:43","date_gmt":"2026-06-22T10:37:43","guid":{"rendered":"https:\/\/ceo.com.pl\/en\/?p=5753"},"modified":"2026-06-22T10:37:53","modified_gmt":"2026-06-22T10:37:53","slug":"june-business-sentiment-signals-caution-across-polands-economy-27416","status":"publish","type":"post","link":"https:\/\/ceo.com.pl\/en\/june-business-sentiment-signals-caution-across-polands-economy-27416\/","title":{"rendered":"June Business Sentiment Signals Caution Across Poland\u2019s Economy"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">Poland\u2019s economy entered the summer with business sentiment broadly stable but increasingly cautious. Statistics Poland\u2019s June survey shows that companies are still assessing current conditions relatively calmly, yet expectations for the next three months have weakened across much of the economy. Financial services remain the strongest sector, while accommodation and food services are benefiting from seasonal demand. Manufacturing, however, continues to lag behind, and employers are taking a more restrained approach to hiring, investment and wage decisions.<\/p>\n\n\n\n<div class=\"ceo-article\">\n<style>\n.ceo-article{--ceo-navy:#1a3a6c;--ceo-navy-d:#131F49;--ceo-amber:#e67a2d;--ceo-amber-l:#f4a261;--ceo-blue:#3c6db0;--ceo-ink:#1c2433;--ceo-grey:#5b6573;--ceo-line:#e4e8ef;--ceo-bg:#f6f8fb;--ceo-green:#2e8b57;font-family:-apple-system,BlinkMacSystemFont,\"Segoe UI\",Roboto,Helvetica,Arial,sans-serif;color:var(--ceo-ink);line-height:1.66;font-size:17px;max-width:880px;margin:0 auto;padding:0 4px;}\n.ceo-article *{box-sizing:border-box;}\n.ceo-kicker{display:inline-block;font-size:12.5px;font-weight:700;letter-spacing:.14em;text-transform:uppercase;color:var(--ceo-amber);border:1px solid var(--ceo-amber);padding:5px 12px;border-radius:3px;margin-bottom:18px;}\n.ceo-h1{font-size:32px;line-height:1.2;font-weight:800;color:var(--ceo-navy-d);margin:0 0 16px;letter-spacing:-.01em;}\n.ceo-lead{font-size:19px;line-height:1.55;color:var(--ceo-ink);border-left:4px solid var(--ceo-amber);padding:4px 0 4px 18px;margin:0 0 10px;font-weight:500;}\n.ceo-meta{font-size:13.5px;color:var(--ceo-grey);margin:0 0 30px;}\n.ceo-article h2{font-size:23px;font-weight:800;color:var(--ceo-navy-d);margin:42px 0 14px;letter-spacing:-.01em;}\n.ceo-article h3{font-size:18.5px;font-weight:700;color:var(--ceo-navy);margin:28px 0 10px;}\n.ceo-article p{margin:0 0 16px;}\n.ceo-article strong{color:var(--ceo-navy-d);}\n.ceo-kpis{display:flex;flex-wrap:wrap;gap:14px;margin:26px 0 8px;}\n.ceo-kpi{flex:1 1 200px;background:#fff;border:1px solid var(--ceo-line);border-top:3px solid var(--ceo-navy);border-radius:8px;padding:18px 18px 16px;box-shadow:0 1px 3px rgba(20,40,80,.05);}\n.ceo-kpi.up{border-top-color:var(--ceo-green);}\n.ceo-kpi.down{border-top-color:var(--ceo-amber);}\n.ceo-kpi-val{font-size:30px;font-weight:800;color:var(--ceo-navy-d);line-height:1;letter-spacing:-.02em;}\n.ceo-kpi-delta{font-size:14px;font-weight:700;margin-top:7px;}\n.ceo-kpi-delta.pos{color:var(--ceo-green);}\n.ceo-kpi-delta.neg{color:var(--ceo-amber);}\n.ceo-kpi-lbl{font-size:13px;color:var(--ceo-grey);margin-top:8px;line-height:1.35;}\n.ceo-chart-box{background:#fff;border:1px solid var(--ceo-line);border-radius:10px;padding:20px 18px 16px;margin:24px 0;box-shadow:0 1px 3px rgba(20,40,80,.05);}\n.ceo-chart-title{font-size:15px;font-weight:700;color:var(--ceo-navy-d);margin:0 0 4px;}\n.ceo-chart-sub{font-size:12.5px;color:var(--ceo-grey);margin:0 0 14px;}\n.ceo-chart-wrap{position:relative;width:100%;}\n.ceo-src{font-size:11.5px;color:var(--ceo-grey);margin-top:12px;font-style:italic;}\n.ceo-table-wrap{overflow-x:auto;margin:22px 0;border:1px solid var(--ceo-line);border-radius:10px;}\n.ceo-table{width:100%;border-collapse:collapse;font-size:14.5px;min-width:600px;}\n.ceo-table thead th{background:var(--ceo-navy-d);color:#fff;font-weight:700;text-align:right;padding:12px 14px;font-size:13px;}\n.ceo-table thead th:first-child{text-align:left;}\n.ceo-table tbody td{padding:10px 14px;text-align:right;border-bottom:1px solid var(--ceo-line);font-variant-numeric:tabular-nums;}\n.ceo-table tbody td:first-child{text-align:left;font-weight:600;color:var(--ceo-navy-d);}\n.ceo-table tbody tr:nth-child(even){background:var(--ceo-bg);}\n.ceo-badge{display:inline-block;min-width:52px;padding:2px 8px;border-radius:4px;font-size:12.5px;font-weight:700;color:#fff;text-align:center;}\n.ceo-b-pos{background:var(--ceo-green);}\n.ceo-b-neg{background:var(--ceo-amber);}\n.ceo-b-flat{background:var(--ceo-grey);}\n.ceo-callout{background:var(--ceo-navy-d);color:#fff;border-radius:10px;padding:22px 24px;margin:30px 0;}\n.ceo-callout p{margin:0;font-size:16.5px;line-height:1.55;}\n.ceo-callout strong{color:var(--ceo-amber-l);}\n.ceo-takeaways{background:var(--ceo-bg);border:1px solid var(--ceo-line);border-radius:10px;padding:22px 26px;margin:28px 0;}\n.ceo-takeaways h3{margin-top:0;}\n.ceo-takeaways ul{margin:0;padding-left:20px;}\n.ceo-takeaways li{margin-bottom:11px;padding-left:4px;}\n.ceo-foot{font-size:12.5px;color:var(--ceo-grey);border-top:1px solid var(--ceo-line);padding-top:16px;margin-top:36px;}\n@media(max-width:600px){.ceo-h1{font-size:26px;}.ceo-lead{font-size:17px;}.ceo-kpi-val{font-size:26px;}}\n<\/style>\n\n<span class=\"ceo-kicker\">Business Confidence<\/span>\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/ceo.com.pl\/en\/june-business-sentiment-signals-caution-across-polands-economy-27416\/#June_business_sentiment_companies_grow_more_cautious_about_the_second_half_of_the_year\" >June business sentiment: companies grow more cautious about the second half of the year<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/ceo.com.pl\/en\/june-business-sentiment-signals-caution-across-polands-economy-27416\/#Finance_remains_the_leader_while_manufacturing_stays_the_weakest_link\" >Finance remains the leader, while manufacturing stays the weakest link<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/ceo.com.pl\/en\/june-business-sentiment-signals-caution-across-polands-economy-27416\/#Hospitality_gains_ground_as_finance_and_retail_lose_momentum\" >Hospitality gains ground as finance and retail lose momentum<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/ceo.com.pl\/en\/june-business-sentiment-signals-caution-across-polands-economy-27416\/#Eight_sectors_four_reference_points\" >Eight sectors, four reference points<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/ceo.com.pl\/en\/june-business-sentiment-signals-caution-across-polands-economy-27416\/#Sector_divergence_has_been_visible_for_months\" >Sector divergence has been visible for months<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/ceo.com.pl\/en\/june-business-sentiment-signals-caution-across-polands-economy-27416\/#Companies_view_the_present_more_favourably_than_the_future\" >Companies view the present more favourably than the future<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/ceo.com.pl\/en\/june-business-sentiment-signals-caution-across-polands-economy-27416\/#Hiring_plans_remain_stable_while_pay_decisions_depend_on_company_finances\" >Hiring plans remain stable, while pay decisions depend on company finances<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/ceo.com.pl\/en\/june-business-sentiment-signals-caution-across-polands-economy-27416\/#What_the_June_survey_shows\" >What the June survey shows<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/ceo.com.pl\/en\/june-business-sentiment-signals-caution-across-polands-economy-27416\/#Key_conclusions\" >Key conclusions<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2 class=\"ceo-h1\"><span class=\"ez-toc-section\" id=\"June_business_sentiment_companies_grow_more_cautious_about_the_second_half_of_the_year\"><\/span>June business sentiment: companies grow more cautious about the second half of the year<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n<p class=\"ceo-lead\">Poland\u2019s June business confidence survey points to an economy that remains broadly stable, but where corporate expectations are clearly weakening. Assessments of current conditions are steady across most sectors, while outlooks for the next three months have deteriorated more visibly. Companies are not yet signalling a sharp slowdown, but they are becoming more cautious about investment, hiring and costs.<\/p>\n\n<p class=\"ceo-meta\">22 June 2026 \u00b7 Based on data from Statistics Poland (GUS)<\/p>\n\n<div class=\"ceo-kpis\">\n  <div class=\"ceo-kpi up\">\n    <div class=\"ceo-kpi-val\">+24.4<\/div>\n    <div class=\"ceo-kpi-delta neg\">\u25bc from +26.6 m\/m<\/div>\n    <div class=\"ceo-kpi-lbl\">Financial and insurance activities \u2014 the strongest reading, but below the long-term average<\/div>\n  <\/div>\n\n  <div class=\"ceo-kpi down\">\n    <div class=\"ceo-kpi-val\">\u22126.0<\/div>\n    <div class=\"ceo-kpi-delta neg\">\u25bc from \u22124.1 m\/m<\/div>\n    <div class=\"ceo-kpi-lbl\">Manufacturing \u2014 the weakest result among the sectors surveyed<\/div>\n  <\/div>\n\n  <div class=\"ceo-kpi up\">\n    <div class=\"ceo-kpi-val\">+19.7<\/div>\n    <div class=\"ceo-kpi-delta pos\">\u25b2 from +14.7 m\/m<\/div>\n    <div class=\"ceo-kpi-lbl\">Accommodation and food services \u2014 the largest monthly improvement<\/div>\n  <\/div>\n\n  <div class=\"ceo-kpi\">\n    <div class=\"ceo-kpi-val\">4 of 8<\/div>\n    <div class=\"ceo-kpi-delta neg\">sectors below zero<\/div>\n    <div class=\"ceo-kpi-lbl\">overall business climate indicator, non-seasonally adjusted<\/div>\n  <\/div>\n<\/div>\n\n<p>Statistics Poland\u2019s monthly business confidence survey does not point to a single, clear direction for the economy. Sentiment weakened most noticeably in financial and insurance activities, while accommodation and food services posted the strongest improvement. Most other industries remain close to neutral territory or continue to report moderately negative assessments, creating a picture of an economy in a cautious wait-and-see mode.<\/p>\n\n<h2><span class=\"ez-toc-section\" id=\"Finance_remains_the_leader_while_manufacturing_stays_the_weakest_link\"><\/span>Finance remains the leader, while manufacturing stays the weakest link<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n<p>The gap between sectors remains substantial. The highest overall business climate indicator was recorded in financial and insurance activities, at plus 24.4 points. Accommodation and food services followed closely, with a reading of plus 19.7 points.<\/p>\n\n<p>At the other end of the scale was manufacturing, where the indicator fell to minus 6.0 points. It is also worth noting that even the financial sector, despite its clearly positive result, remains below its long-term average of plus 25.4 points. This suggests that the strong optimism seen in the sector is gradually losing momentum.<\/p>\n\n<div class=\"ceo-chart-box\">\n  <div class=\"ceo-chart-title\">Overall business climate indicator by sector<\/div>\n  <div class=\"ceo-chart-sub\">June 2026, non-seasonally adjusted data<\/div>\n  <div class=\"ceo-chart-wrap\"><canvas id=\"ceoRankChart\" height=\"380\"><\/canvas><\/div>\n  <div class=\"ceo-src\">Source: Statistics Poland (GUS). Own calculations.<\/div>\n<\/div>\n\n<p>Four of the eight sectors surveyed recorded indicators below zero: manufacturing, retail trade, construction, and transportation and warehousing. Wholesale trade remained positive, but only marginally. This pattern does not yet suggest a broad collapse in business sentiment, but it does show a lack of a strong catalyst capable of driving a wider recovery.<\/p>\n\n<h2><span class=\"ez-toc-section\" id=\"Hospitality_gains_ground_as_finance_and_retail_lose_momentum\"><\/span>Hospitality gains ground as finance and retail lose momentum<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n<p>Monthly changes in the indicator divided the sectors quite clearly. Accommodation and food services recorded the strongest improvement, with the index rising by 5.0 points. The increase may be linked to the start of the holiday season and improving demand expectations for the coming months.<\/p>\n\n<p>Information and communication, construction, and transportation and warehousing also posted gains. By contrast, sentiment deteriorated in financial and insurance activities, manufacturing, and retail trade. The steepest monthly decline was recorded in finance, where the indicator fell by 2.2 points.<\/p>\n\n<div class=\"ceo-chart-box\">\n  <div class=\"ceo-chart-title\">Month-on-month change in the business climate indicator<\/div>\n  <div class=\"ceo-chart-sub\">June versus May 2026, in points<\/div>\n  <div class=\"ceo-chart-wrap\"><canvas id=\"ceoDeltaChart\" height=\"340\"><\/canvas><\/div>\n  <div class=\"ceo-src\">Source: Statistics Poland (GUS). Own calculations.<\/div>\n<\/div>\n\n<h2><span class=\"ez-toc-section\" id=\"Eight_sectors_four_reference_points\"><\/span>Eight sectors, four reference points<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n<div class=\"ceo-table-wrap\">\n  <table class=\"ceo-table\">\n    <thead>\n      <tr>\n        <th>Sector<\/th>\n        <th>Year ago<\/th>\n        <th>May 2026<\/th>\n        <th>June 2026<\/th>\n        <th>Long-term avg.<\/th>\n        <th>m\/m change<\/th>\n      <\/tr>\n    <\/thead>\n    <tbody>\n      <tr><td>Financial and insurance activities<\/td><td>25.3<\/td><td>26.6<\/td><td>24.4<\/td><td>25.4<\/td><td><span class=\"ceo-badge ceo-b-neg\">\u22122.2<\/span><\/td><\/tr>\n      <tr><td>Accommodation and food services<\/td><td>17.3<\/td><td>14.7<\/td><td>19.7<\/td><td>\u22120.4<\/td><td><span class=\"ceo-badge ceo-b-pos\">+5.0<\/span><\/td><\/tr>\n      <tr><td>Information and communication<\/td><td>9.2<\/td><td>8.1<\/td><td>10.2<\/td><td>17.2<\/td><td><span class=\"ceo-badge ceo-b-pos\">+2.1<\/span><\/td><\/tr>\n      <tr><td>Wholesale trade<\/td><td>\u22120.5<\/td><td>3.0<\/td><td>1.6<\/td><td>2.4<\/td><td><span class=\"ceo-badge ceo-b-neg\">\u22121.4<\/span><\/td><\/tr>\n      <tr><td>Transportation and warehousing<\/td><td>\u22120.8<\/td><td>\u22121.1<\/td><td>\u22120.6<\/td><td>\u22120.9<\/td><td><span class=\"ceo-badge ceo-b-pos\">+0.5<\/span><\/td><\/tr>\n      <tr><td>Construction<\/td><td>\u22124.7<\/td><td>\u22121.3<\/td><td>\u22120.7<\/td><td>\u22123.6<\/td><td><span class=\"ceo-badge ceo-b-pos\">+0.6<\/span><\/td><\/tr>\n      <tr><td>Retail trade<\/td><td>\u22120.9<\/td><td>0.0<\/td><td>\u22121.6<\/td><td>\u22124.1<\/td><td><span class=\"ceo-badge ceo-b-neg\">\u22121.6<\/span><\/td><\/tr>\n      <tr><td>Manufacturing<\/td><td>\u22127.7<\/td><td>\u22124.1<\/td><td>\u22126.0<\/td><td>0.4<\/td><td><span class=\"ceo-badge ceo-b-neg\">\u22121.9<\/span><\/td><\/tr>\n    <\/tbody>\n  <\/table>\n<\/div>\n\n<p>Compared with June last year, the most visible improvement can be seen in construction, manufacturing, and finance and insurance. In construction, the indicator rose from minus 4.7 to minus 0.7 points and now stands clearly above its long-term average. This suggests that, despite still-negative assessments, the sector\u2019s situation is better than it was a year ago.<\/p>\n\n<h2><span class=\"ez-toc-section\" id=\"Sector_divergence_has_been_visible_for_months\"><\/span>Sector divergence has been visible for months<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n<p>A broader view of the data suggests that the June reading is not a one-off fluctuation. Financial and insurance activities continue to maintain a relatively high level of confidence, although a gradual cooling has been visible in recent months. Accommodation and food services are rebuilding momentum after a weaker autumn and winter period.<\/p>\n\n<p>Manufacturing, meanwhile, remains under pressure and, despite a temporary improvement at the start of the year, continues to stay below zero. Construction is improving, but has not yet regained a sustained edge on the optimistic side. The differences between sectors are now greater than they were several months ago, making it harder to form a single diagnosis for the entire economy.<\/p>\n\n<div class=\"ceo-chart-box\">\n  <div class=\"ceo-chart-title\">Business climate indicator in selected sectors \u2014 last 18 months<\/div>\n  <div class=\"ceo-chart-sub\">Non-seasonally adjusted data<\/div>\n  <div class=\"ceo-chart-wrap\"><canvas id=\"ceoTrendChart\" height=\"360\"><\/canvas><\/div>\n  <div class=\"ceo-src\">Source: Statistics Poland (GUS). Own calculations.<\/div>\n<\/div>\n\n<h2><span class=\"ez-toc-section\" id=\"Companies_view_the_present_more_favourably_than_the_future\"><\/span>Companies view the present more favourably than the future<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n<p>The most important signal from the June survey is not limited to the level of the overall indicators. More significant is the widening gap between companies\u2019 assessment of current conditions and their expectations for the next three months. In most sectors, the diagnostic component remains broadly stable, while the forward-looking component has weakened more clearly.<\/p>\n\n<p>This means that businesses do not yet see a sharp deterioration in operating conditions, but they are looking at the near future with greater reserve. Such a pattern often accompanies periods in which companies become less willing to take risks, postpone investment decisions and plan spending more cautiously.<\/p>\n\n<div class=\"ceo-chart-box\">\n  <div class=\"ceo-chart-title\">Current assessment versus expectations for the next three months<\/div>\n  <div class=\"ceo-chart-sub\">June 2026, diagnostic and forward-looking components<\/div>\n  <div class=\"ceo-chart-wrap\"><canvas id=\"ceoCompChart\" height=\"360\"><\/canvas><\/div>\n  <div class=\"ceo-src\">Source: Statistics Poland (GUS). Own calculations.<\/div>\n<\/div>\n\n<p>The clearest contrast can be seen in financial and insurance activities. The current assessment reached a very high plus 46.2 points, while expectations for the coming months fell to plus 2.5 points. A similar, though less pronounced, pattern can also be observed in manufacturing and retail trade.<\/p>\n\n<p>Accommodation and food services are the exception. In this sector, expectations for the next three months reached plus 28.8 points and clearly exceeded the assessment of current conditions. This shows that businesses are counting on a seasonal rise in demand and stronger results during the holiday period.<\/p>\n\n<h2><span class=\"ez-toc-section\" id=\"Hiring_plans_remain_stable_while_pay_decisions_depend_on_company_finances\"><\/span>Hiring plans remain stable, while pay decisions depend on company finances<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n<p>Questions relating to the labour market confirm that businesses are currently pursuing a cautious strategy. Over the next three months, the overwhelming majority of companies plan to keep employment at current levels. This is particularly true for workers who are relatively easy to replace.<\/p>\n\n<p>The largest share of businesses considering headcount reductions can be found in manufacturing and wholesale trade. At the same time, accommodation and food services show the strongest willingness to increase staffing levels. The seasonal nature of activity is likely to be an important factor in this case.<\/p>\n\n<div class=\"ceo-chart-box\">\n  <div class=\"ceo-chart-title\">Employment plans for the next three months<\/div>\n  <div class=\"ceo-chart-sub\">Relatively easy-to-replace workers, weighted share of responses<\/div>\n  <div class=\"ceo-chart-wrap\"><canvas id=\"ceoLaborChart\" height=\"340\"><\/canvas><\/div>\n  <div class=\"ceo-src\">Source: Statistics Poland (GUS). Own calculations.<\/div>\n<\/div>\n\n<p>The survey also highlights a shift in the factors shaping wage policy. Across all sectors analysed, the most frequently cited influence on pay decisions in the coming months is the <strong>financial condition of the company<\/strong>. Between 61% and 66% of respondents identified it as a significant factor.<\/p>\n\n<p>Inflationary pressure remains important, but it is cited less often than a company\u2019s own financial position. This suggests that businesses are becoming less likely to treat pay rises as an automatic response to higher prices. Profitability, order volumes and the ability to pass costs on to customers are playing an increasingly important role.<\/p>\n\n<div class=\"ceo-callout\">\n  <p><strong>Key takeaway for managers:<\/strong> the economy is not signalling a sharp deterioration, but weaker expectations combined with stable assessments of current conditions are a clear sign of caution. Companies are not yet cutting costs on a broad scale, but they are increasingly delaying growth decisions, planning recruitment more carefully and linking pay policy to their own financial performance.<\/p>\n<\/div>\n\n<h2><span class=\"ez-toc-section\" id=\"What_the_June_survey_shows\"><\/span>What the June survey shows<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n<div class=\"ceo-takeaways\">\n  <h3><span class=\"ez-toc-section\" id=\"Key_conclusions\"><\/span>Key conclusions<span class=\"ez-toc-section-end\"><\/span><\/h3>\n  <ul>\n    <li><strong>Expectations are weakening faster than current assessments.<\/strong> Businesses do not yet see a major deterioration in operating conditions, but they are becoming more cautious about the next quarter.<\/li>\n\n    <li><strong>Finance remains in the lead, but is losing momentum.<\/strong> The financial sector still records the highest business climate reading, although it has fallen below its long-term average and expectations have weakened markedly.<\/li>\n\n    <li><strong>Accommodation and food services are the bright spot.<\/strong> The sector posted the strongest month-on-month improvement and expects further support from seasonal demand.<\/li>\n\n    <li><strong>Manufacturing remains the weak link.<\/strong> The sector\u2019s indicator deteriorated again and remains clearly below its long-term average.<\/li>\n\n    <li><strong>The labour market is largely frozen.<\/strong> Most companies plan to keep employment unchanged, while pay decisions are increasingly determined by company finances rather than inflation alone.<\/li>\n  <\/ul>\n<\/div>\n\n<p>In the coming months, the key question will be whether weaker business expectations translate into real cuts in investment, hiring and spending. For now, the data point more to caution than to a clear deterioration in economic conditions. Summer readings will show whether seasonal demand can improve sentiment beyond tourism- and hospitality-related services.<\/p>\n\n<p class=\"ceo-foot\">Data for June 2026, non-seasonally adjusted unless stated otherwise. Source: Statistics Poland (GUS), \u201cBusiness Tendency Survey \u2013 June 2026\u201d, Enterprise Department. Own calculations based on GUS data. The survey is co-financed by the European Union.<\/p>\n\n<script class=\"nowprocket\" data-cfasync=\"false\" data-no-minify=\"1\" src=\"https:\/\/cdnjs.cloudflare.com\/ajax\/libs\/Chart.js\/4.4.1\/chart.umd.min.js\"><\/script>\n\n<script class=\"nowprocket\" data-cfasync=\"false\" data-no-minify=\"1\">\n(function(){\n  var NAVY='#1a3a6c', NAVYD='#131F49', AMBER='#e67a2d', BLUE='#3c6db0', GREEN='#2e8b57', GREY='#9aa6b6';\n\n  function nf(v){\n    return v.toLocaleString('en-US',{\n      minimumFractionDigits:1,\n      maximumFractionDigits:1\n    });\n  }\n\n  function draw(){\n    try{\n      if(typeof Chart==='undefined') return false;\n\n      Chart.defaults.font.family='-apple-system,BlinkMacSystemFont,\"Segoe UI\",Roboto,Helvetica,Arial,sans-serif';\n      Chart.defaults.color='#5b6573';\n\n      var rk=document.getElementById('ceoRankChart');\n      if(rk && !rk.dataset.done){\n        rk.dataset.done='1';\n\n        var rl=[\n          'Finance and insurance',\n          'Accommodation and food services',\n          'Information and communication',\n          'Wholesale trade',\n          'Transport and warehousing',\n          'Construction',\n          'Retail trade',\n          'Manufacturing'\n        ];\n\n        var rv=[24.4,19.7,10.2,1.6,-0.6,-0.7,-1.6,-6.0];\n\n        new Chart(rk,{\n          type:'bar',\n          data:{\n            labels:rl,\n            datasets:[{\n              data:rv,\n              backgroundColor:rv.map(function(v){return v>=0?NAVY:AMBER;}),\n              borderRadius:4,\n              barThickness:24\n            }]\n          },\n          options:{\n            indexAxis:'y',\n            responsive:true,\n            maintainAspectRatio:false,\n            plugins:{\n              legend:{display:false},\n              tooltip:{\n                callbacks:{\n                  label:function(x){\n                    return (x.parsed.x>=0?'+':'')+nf(x.parsed.x);\n                  }\n                }\n              }\n            },\n            scales:{\n              x:{\n                grid:{color:'#eef1f6'},\n                ticks:{callback:function(v){return nf(v);}}\n              },\n              y:{grid:{display:false}}\n            }\n          }\n        });\n      }\n\n      var dl=document.getElementById('ceoDeltaChart');\n      if(dl && !dl.dataset.done){\n        dl.dataset.done='1';\n\n        var dlab=[\n          'Accommodation and food services',\n          'Information and communication',\n          'Construction',\n          'Transport and warehousing',\n          'Wholesale trade',\n          'Retail trade',\n          'Manufacturing',\n          'Finance and insurance'\n        ];\n\n        var dval=[5.0,2.1,0.6,0.5,-1.4,-1.6,-1.9,-2.2];\n\n        new Chart(dl,{\n          type:'bar',\n          data:{\n            labels:dlab,\n            datasets:[{\n              data:dval,\n              backgroundColor:dval.map(function(v){return v>=0?GREEN:AMBER;}),\n              borderRadius:4,\n              barThickness:24\n            }]\n          },\n          options:{\n            indexAxis:'y',\n            responsive:true,\n            maintainAspectRatio:false,\n            plugins:{\n              legend:{display:false},\n              tooltip:{\n                callbacks:{\n                  label:function(x){\n                    return (x.parsed.x>=0?'+':'')+nf(x.parsed.x)+' pts';\n                  }\n                }\n              }\n            },\n            scales:{\n              x:{\n                grid:{color:'#eef1f6'},\n                ticks:{\n                  callback:function(v){\n                    return (v>0?'+':'')+nf(v);\n                  }\n                }\n              },\n              y:{grid:{display:false}}\n            }\n          }\n        });\n      }\n\n      var tr=document.getElementById('ceoTrendChart');\n      if(tr && !tr.dataset.done){\n        tr.dataset.done='1';\n\n        var labels=['Jan 25','Feb 25','Mar 25','Apr 25','May 25','Jun 25','Jul 25','Aug 25','Sep 25','Oct 25','Nov 25','Dec 25','Jan 26','Feb 26','Mar 26','Apr 26','May 26','Jun 26'];\n\n        var fin=[26.8,25.3,23.2,25.1,22.6,25.3,24.6,26.1,24.9,23.6,24.4,23.6,25.4,25.1,26.8,29.3,26.6,24.4];\n        var zak=[1,0.7,8.2,11.4,13.5,17.3,11.5,8.4,5,-1.2,0.7,-0.3,3,8.1,3.7,10.2,14.7,19.7];\n        var inf=[10.4,9.1,8,9.5,8.7,9.2,9,10.3,9.9,10.6,9.4,9.6,12.1,11.7,10.7,9.6,8.1,10.2];\n        var prz=[-9.6,-8.1,-6.3,-6.2,-6.4,-7.7,-7.7,-5.6,-6.5,-8,-7.9,-11.6,-4.1,-3.2,-5.2,-4.4,-4.1,-6];\n        var bud=[-7.3,-6.8,-4.9,-4,-3.6,-4.7,-3.3,-3.9,-5.3,-7.3,-8.9,-10,-5.6,-4.7,-2.8,-2.4,-1.3,-0.7];\n\n        function ds(l,d,c){\n          return{\n            label:l,\n            data:d,\n            borderColor:c,\n            backgroundColor:c,\n            borderWidth:2.2,\n            pointRadius:0,\n            pointHoverRadius:4,\n            tension:.3\n          };\n        }\n\n        new Chart(tr,{\n          type:'line',\n          data:{\n            labels:labels,\n            datasets:[\n              ds('Finance',fin,NAVYD),\n              ds('Accommodation',zak,AMBER),\n              ds('Information',inf,BLUE),\n              ds('Manufacturing',prz,GREY),\n              ds('Construction',bud,GREEN)\n            ]\n          },\n          options:{\n            responsive:true,\n            maintainAspectRatio:false,\n            interaction:{mode:'index',intersect:false},\n            plugins:{\n              legend:{\n                position:'bottom',\n                labels:{boxWidth:14,padding:14,usePointStyle:true}\n              },\n              tooltip:{\n                callbacks:{\n                  label:function(x){\n                    return x.dataset.label+': '+(x.parsed.y>=0?'+':'')+nf(x.parsed.y);\n                  }\n                }\n              }\n            },\n            scales:{\n              y:{\n                grid:{color:'#eef1f6'},\n                ticks:{callback:function(v){return nf(v);}}\n              },\n              x:{\n                grid:{display:false},\n                ticks:{maxRotation:0,autoSkip:true,maxTicksLimit:9}\n              }\n            }\n          }\n        });\n      }\n\n      var cp=document.getElementById('ceoCompChart');\n      if(cp && !cp.dataset.done){\n        cp.dataset.done='1';\n\n        var clab=['Finance','Information','Accommodation','Transport','Wholesale','Retail','Construction','Manufacturing'];\n        var diag=[46.2,16.7,10.5,3.1,2.4,0.4,-2.5,-9.0];\n        var prog=[2.5,3.7,28.8,-4.3,0.8,-3.6,1.2,-3.0];\n\n        new Chart(cp,{\n          type:'bar',\n          data:{\n            labels:clab,\n            datasets:[\n              {\n                label:'Current conditions',\n                data:diag,\n                backgroundColor:NAVY,\n                borderRadius:4,\n                maxBarThickness:26\n              },\n              {\n                label:'Outlook \u2014 next 3 months',\n                data:prog,\n                backgroundColor:AMBER,\n                borderRadius:4,\n                maxBarThickness:26\n              }\n            ]\n          },\n          options:{\n            responsive:true,\n            maintainAspectRatio:false,\n            plugins:{\n              legend:{\n                position:'bottom',\n                labels:{boxWidth:14,padding:16}\n              },\n              tooltip:{\n                callbacks:{\n                  label:function(x){\n                    return x.dataset.label+': '+(x.parsed.y>=0?'+':'')+nf(x.parsed.y);\n                  }\n                }\n              }\n            },\n            scales:{\n              y:{\n                grid:{color:'#eef1f6'},\n                ticks:{callback:function(v){return nf(v);}}\n              },\n              x:{\n                grid:{display:false},\n                ticks:{maxRotation:40,minRotation:0,font:{size:11}}\n              }\n            }\n          }\n        });\n      }\n\n      var lb=document.getElementById('ceoLaborChart');\n      if(lb && !lb.dataset.done){\n        lb.dataset.done='1';\n\n        var llab=['Accommodation and food services','Manufacturing','Transport','Retail','Construction','Wholesale'];\n        var inc=[14.9,7.9,5.8,5.7,5.1,3.2];\n        var dec=[5.0,13.2,8.6,9.6,8.5,11.6];\n\n        new Chart(lb,{\n          type:'bar',\n          data:{\n            labels:llab,\n            datasets:[\n              {\n                label:'Plan to increase employment',\n                data:inc,\n                backgroundColor:GREEN,\n                borderRadius:4,\n                maxBarThickness:26\n              },\n              {\n                label:'Plan to reduce employment',\n                data:dec,\n                backgroundColor:AMBER,\n                borderRadius:4,\n                maxBarThickness:26\n              }\n            ]\n          },\n          options:{\n            responsive:true,\n            maintainAspectRatio:false,\n            plugins:{\n              legend:{\n                position:'bottom',\n                labels:{boxWidth:14,padding:16}\n              },\n              tooltip:{\n                callbacks:{\n                  label:function(x){\n                    return x.dataset.label+': '+nf(x.parsed.y)+'%';\n                  }\n                }\n              }\n            },\n            scales:{\n              y:{\n                beginAtZero:true,\n                grid:{color:'#eef1f6'},\n                ticks:{callback:function(v){return nf(v)+'%';}}\n              },\n              x:{\n                grid:{display:false},\n                ticks:{font:{size:11}}\n              }\n            }\n          }\n        });\n      }\n\n      return true;\n    }catch(e){\n      return false;\n    }\n  }\n\n  var n=0;\n  var iv=setInterval(function(){\n    n++;\n    if(draw() || n>=100) clearInterval(iv);\n  },100);\n})();\n<\/script>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Poland\u2019s economy entered the summer with business sentiment broadly stable but increasingly cautious. Statistics Poland\u2019s June survey shows that companies are still assessing current conditions relatively calmly, yet expectations for the next three months have weakened across much of the economy. Financial services remain the strongest sector, while accommodation and food services are benefiting from [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":4153,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jetpack_publicize_message":"Polish companies are not yet expecting a sharp slowdown, but their outlook for the coming months is becoming more cautious.\n\nJune data from Statistics Poland show a growing gap between how businesses assess current conditions and what they expect next. Finance remains the strongest sector, while accommodation and food services are gaining momentum ahead of the holiday season. Manufacturing, retail and transport, however, continue to face weaker sentiment.\n\nThe key message is clear: companies are holding back on major decisions, keeping hiring broadly stable and tying wage increases more closely to their own financial performance.\n\n#Poland #Economy #BusinessConfidence #GUS #PolishEconomy #Finance #Manufacturing","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[5,7],"tags":[2789,2702,2794,2783,47,2690,2669,64,2692],"class_list":["post-5753","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","category-reports-analysis","tag-beyond","tag-catalyst","tag-confirm","tag-contrast","tag-european-union","tag-gap","tag-gus","tag-poland","tag-sharp"],"jetpack_publicize_connections":[],"_links":{"self":[{"href":"https:\/\/ceo.com.pl\/en\/wp-json\/wp\/v2\/posts\/5753","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ceo.com.pl\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ceo.com.pl\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ceo.com.pl\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ceo.com.pl\/en\/wp-json\/wp\/v2\/comments?post=5753"}],"version-history":[{"count":1,"href":"https:\/\/ceo.com.pl\/en\/wp-json\/wp\/v2\/posts\/5753\/revisions"}],"predecessor-version":[{"id":5759,"href":"https:\/\/ceo.com.pl\/en\/wp-json\/wp\/v2\/posts\/5753\/revisions\/5759"}],"wp:attachment":[{"href":"https:\/\/ceo.com.pl\/en\/wp-json\/wp\/v2\/media?parent=5753"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ceo.com.pl\/en\/wp-json\/wp\/v2\/categories?post=5753"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ceo.com.pl\/en\/wp-json\/wp\/v2\/tags?post=5753"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}