PMI drops for the 3rd consecutive month

The Purchasing Managers Index for Poland in September has dropped to 50.5 points, from 51.4 points in July, reaching the 23-month low. The market consensus was 51.5 points.

“Polish manufacturing output growth slowed to a crawl in September as new orders declined. The drop in new business ended a run of increases stretching back almost two years, the longest sequence in over a decade. Survey data suggested that weakening export demand was a key factor, as new export contracts fell at the fastest rate in over four years. “The headline PMI remained just above 50.0 to extend the current record sequence of positive readings to four years, although this was supported to a large extent by the employment and suppliers’ delivery times components. These indicators, along with output, could also turn negative in the months ahead should new orders fail to rebound in October,” Trevor Balchin, Director at IHS Markit said.

The headline Markit Poland Manufacturing PMI is a composite single-figure indicator of manufacturing performance. It is derived from indicators for new orders, output, employment, suppliers’ delivery times and stocks of purchases. Any figure greater than 50 indicates an overall improvement of the sector.

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