In August manufacturing activity decreased again. The industrial confidence indicator (ICI) declined by 2.0 pts to 1.0 pts. It remains, however, higher than one year ago (by 12.6 pts). The positive signs of the August business survey results are yearly increases in the majority of the survey balances, as well as a rise in export production and its competitiveness. On the other hand, total production and orders dropped, finishes goods inventories increased, financial situation of manufacturers worsened, and average costs continued growing. There are, however, some signs indicating the slowdown is about to finish – producers expect their business activity to rise in the coming months.