PMI drops to 22-month low

The Purchasing Managers Index for Poland in August has dropped to 51.4 points, from 52.9 points in July, reaching the 22-month low. The market consensus was 53 points.

“The muted pace at which output rose during the latest month reflected a slower increase in new orders. The pace of growth in new work was the weakest seen over the current 22-month sequence of expansion. That said, the current phase of growth is the longest registered in over ten years. The 12-month outlook for Polish manufacturing output remained positive in August, linked to new products and investment in machinery. That said, the strength of sentiment was the second-weakest for 21 months,” 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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