Poland: manufacturing PMI down in May 2022

Poland’s Purchasing Managers’ Index (PMI) fell to 48.5 points in May from 52.0 points in April, economic researcher S&P Global reported on June 1. Economists polled by PAP predicted the PMI would reach 52.0 points in May. According to S&P Global, the reasons for the decline included the war in Ukraine and inflationary pressures. The…

Poland: sanctions inflicting pain on Russia

Western sanctions on Russia are inflicting increasing economic pain, Mateusz Morawiecki, the Polish prime minister, has said. Morawiecki made the claim upon the conclusion of an EU summit in Brussels on May 31 where EU leaders agreed on an oil embargo against Russia, hitting at the foundations of the country’s economy. “The sanctions are slowly…