Poland’s Purchasing Managers’ Index (PMI) rose to 43.4 points in November from 42.0 points in October, economic researcher S&P Global reported on December 1.
Economists polled by PAP predicted the PMI would reach 42.8 points in November.
“Manufacturing and new orders fell for another month in November, albeit the pace of decline slowed down compared to October,” S&P Global wrote.
The surveyed companies said the weakened domestic and foreign demand was a consequence of high inflation, the war in Ukraine and the general uncertainty.
New orders from foreign customers fell for the ninth month in a row and reduced sales spurred a number of firms to cut employment, the researcher said.
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, a reading under 50 indicates a contraction. (The First News/Business World Magazine)
