Poland’s Purchasing Managers’ Index (PMI) rose to 45.6 points in December 2022 from 43.4 points in November 2022, economic researcher S&P Global reported on January 2.
Despite the rise, the PMI was below the neutral 50-point mark for the eighth month in a row.
Both manufacturing and new orders declined in December 2022 while employment and purchasing activity continued to fall, S&P Global wrote.
However, the rates of decline were less severe as compared to November 2022, the researcher added.
Manufacturing decreased for the eighth consecutive month and new orders for the tenth straight month, S&P Global said.
Companies decreased their employment and purchases for the seventh consecutive month in order to optimise their resources.
Among the optimistic developments, production costs increased at the slowest pace in close to two and a half years.
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)
