MIK - Monthly Business Climate Index
The Monthly Business Climate Index is a measurement method used by the Polish Economic Institute and the Bank Gospodarstwa Krajowego. It is used to study economic moods in Polish companies based on seven areas of activity: sales value, new orders, employment, remuneration, production capacities, expenditures and investments, and financial situation.
MIK measurement study methodology
The above-mentioned institutions conduct the measurement by conducting survey questions among a group of 500 companies from five different industries in four size categories. The results of the survey are then plotted on numerical values ranging from 0 to 200, where the level of 100 is the reference point, as a neutral value.
Measurement results for October 2023
In the October compilation of MIK data, the construction industry was indexed at the level of 102.3 points, i.e. above the neutral level, and therefore the authors of the report stated that positive moods prevail in the construction industry. Factors such as improved financial liquidity, plans to increase employment and forecasted wage growth were said to have influenced this state of affairs, while the three biggest problems indicated by construction entrepreneurs were labor costs (72% of respondents), uncertainty of the economic situation (67%) and rising energy prices (49%).
The report's authors also asked companies about investment strategies aimed at gaining an advantage over the competition, and so for 57% of respondents, the main expenditure is acquiring machinery and equipment, followed closely by investments in employee skills (56%), and financial activities for brand recognition (51%).
Comparing the results of the construction industry with other sectors of the economy, it ranks third just behind manufacturing companies (112.0 points) and service companies (106.5 points). Experts who prepared the report pointed out that this positive trend may be associated with the slow rebuilding of consumer demand in our country.
