Poland's corporate conditions deteriorated in Q4, with forecasts for Q1 only marginally higher, the latest NBP corporate sentiment report showed.

Weak outlook for investments, jobs and wage growth spell "continuing weak conditions" in H1, the report said.

Forecasts for demand and orders stopped declining, but remain at levels significantly below those recorded a year earlier. Production forecasts rebounded slightly, but remain below the long-term average.

Polish corporate investment plans have become less optimistic yet again and quarterly investment forecasts also remain unfavorable. Views to inventory levels improved "clearly" in Q4 after a full year of worsening.
Polish exports are seen growing at a slower rate in the nearest future, albeit exporters' condition is currently good.

Poland's Q1 2013 employment forecasts improved slightly quarter on quarter with the employment forecast index amounting to 4.9. Some 14.7% companies plan to lay off employees while 9.8% expect employment growth.