Poland’s Regional Economies Show Greater Confidence Despite Rising Business Costs

Business activity across Poland showed further signs of stabilisation during the summer, with companies in many regions reporting improving market conditions even as rising operating expenses continue to weigh on investment and expansion plans, according to the latest regional business survey published by Statistics Poland (GUS).

The survey indicates that confidence strengthened across much of the country, particularly among companies involved in trade and construction. Businesses in a majority of Poland’s voivodships reported a more favourable outlook than a year earlier, suggesting that economic conditions are gradually becoming more predictable after several years of volatility.

Construction companies were among the most optimistic. Many firms expect stronger demand over the coming months and anticipate improvements in workloads and overall business performance. Similar sentiment was evident across much of the wholesale sector, while businesses operating in hospitality and information technology also reported encouraging conditions in many parts of the country.

The picture remains less consistent in manufacturing, transport and parts of the retail market, where businesses continue to face a more cautious operating environment. Although confidence has improved compared with last year, many companies in these sectors remain reluctant to describe current market conditions as fully favourable.

Despite improving expectations, companies continue to identify rising business costs as one of their biggest challenges. Employment expenses remain a significant concern across most industries, while taxes and broader economic uncertainty continue to influence corporate decision-making. Businesses also expect higher energy prices to place additional pressure on operating costs during the months ahead, alongside increases in the prices of goods, services and other business inputs.

For Poland’s commercial property and construction sectors, the findings point to a market where confidence is gradually returning but financial discipline remains essential. Improving business sentiment may support future investment activity, although developers, contractors and occupiers are still likely to face higher operating costs and continued pressure on project economics until inflationary pressures ease further.