Poland’s manufacturing sector purchasing managers’ index (PMI) dropped to 47.4 points in December 2023 from 48.6 points in November 2023 owing to a protracted deterioration in manufacturing business conditions, a report by S&P Global showed.
“The latest batch of data from S&P Global’s 2023 Poland PMI survey point to a sustained deterioration in manufacturing business conditions, derailed hopes of a return to year-end growth following November 2023 sharp rise in the leading indicator,” the report said.
“The number of new orders fell for the 22nd consecutive month (bringing this downward sequence closer to historical highs) and, in addition, the pace of this decline accelerated, leading to a somewhat sharper cut in production,” it added.
The survey’s authors said the latest reading indicated that business conditions in the industrial sector deteriorated for the 20th consecutive month.
“On a quarterly basis, the PMI for the fourth quarter averaged 46.9 points, and this average was higher than the values obtained in the second and third quarters,” S&P Global wrote. (PAP/Business World Magazine)