Poland’s Purchasing Managers’ Index (PMI) rose to 43.0 points in September 2022 from 40.9 points in August, economic researcher S&P Global reported on October 3.
Economists polled by PAP predicted the PMI would reach 40.1 points in September.
Both manufacturing and new orders contracted in September amid inflation pressure, while business sentiment remained low. Polish factories also accelerated job reduction, S&P Global wrote.
Despite rebounding and reaching the highest level in three months, Poland’s PMI was still below the neutral level of 50 points in September, the researcher added.
New orders continued to decline for the seventh month in a row, as foreign demand for Polish products decreased, particularly in Germany, S&P Global said.
Manufacturing slumped for the fifth consecutive month and production forecasts for the next 12 months are moderate.
The headline PMI is a composite indicator of manufacturing performance derived from indicators for new orders, output, employment, suppliers’ delivery times and stocks of purchases.
A PMI above 50 represents an expansion in manufacturing when compared to the previous month, while a reading under 50 indicates a contraction. (The First News/Business World Magazine)
