Published : 2011-09-06

10 Years of Economic Sentiment Surveys in Lubelskie Voivodship

Mieczysław Kowerski



Abstract

Since the II quarter of 2001 the University of Management and Administration in Zamość has been realizing the economic sentiment surveys which help to calculate sector confidence indicators and economic sentiment indexes for Lubelskie region. The analysis of the trends of economic sentiment indexes permit to reach conclusion that in the investigated period the economy of Lubelskie region has gone through the full medium term business cycle, which began with 2001 recession and through the recovering phase of 2004–2006 entered the boom phase of 2007 – the first half of 2008 with the pick in the IV quarter of 2007 and then the slowdown in the economy which ended in 2009–2010 recession with the “doldrums” registered in the II quarter of 2009. These conclusions can be confirmed by econometric smoothing with the Hodrick-Prescott filter long-term trends of general and entrepreneurs’ economic sentiment indexes and sector confidence indicators. Whereas, the way and pace of coming out of 2009–2010 recession constitute a problem. The results in the IV quarter 2010 and I quarter 2011 may show that coming out of recession will be W-shaped whereas in the IV quarter economy and economic sentiment reached ‘the second doldrums.’ Economic sentiment in Lubelskie region is characterized by several important features: 1. the entrepreneurs’ economic sentiment is slightly better than consumers sentiment almost in the whole analyzed period; 2. among analyzed economic sectors the highest variability of economic sentiment have building contractors; 3. more often city dwellers have better sentiment than country dwellers; 4. formulated by entrepreneurs and consumers forecasts concerning their firms (households) situation are more optimistic than realization a quarter later; 5. economic sentiment index for Lubelskie region is one month lagged to the economic sentiment index for Poland.

Keywords:

economic sentiment surveys, Lubelskie Voivodship, Hodrick-Prescott filter


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Kowerski, M. (2011). 10 Years of Economic Sentiment Surveys in Lubelskie Voivodship. Regional Barometer. Analyses & Prognoses, (2 (24), 15–34. https://doi.org/10.56583/br.1338

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Publisher
Wydawnictwo Akademii Zamojskiej
ul. Pereca 2, 22-400 Zamość
tel.: +48 84/638 34 44;
tel. kom. +48/ 790 331 087
fax: +48 84/ 638 35 00
University
Akademia Zamojska
ul. Pereca 2, 22-400 Zamość
tel. 84 638 34 44
fax 84 638 35 00
e-mail: rektorat@akademiazamojska.edu.pl
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