PMI returns to growth side

Image : Shutterstock

Poland Manufacturing PMI grew to 51.2 points in October compared to 49.5 in September, according to a release from HSBC and Markit Economics. It had remained below the neutral level of 50 for four months.

“Moreover, the latest figure signaled the strongest rate of improvement in six months. Prior to the latest period, business conditions had deteriorated throughout the third quarter, albeit only slightly,” the statement said.

The growth was most influenced by the first rise in new orders in five months. The rate of new business expansion was the strongest since April.

“On balance improving business surveys support our forecast of growth consolidating in the coming quarters having most likely slowed in the third quarter compared to the first half of this year,” said Agata Urbańska-Giner, CEE economist at HSBC.

“This should encourage the Polish MPC to pause the rate cuts after what we forecast will be a 75bp  adjustment in October and November this year.”

Pin It