PMI up by 2 points in November

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The Poland Manufacturing PMI index published by HSBC and Markit Economics grew by 2 points month-on-month to 53.2 points in November, the institutions said in a press release on Monday.

It rose for the third consecutive month and was above the neutral figure of 50 for the second month running.

For the first time since December 2010, all five of the components contributed positively to the overall figure.

“The November manufacturing PMI surprised with a second consecutive strong reading. The survey showed improving business conditions in the manufacturing sector at the fastest rate since March this year,” said Agata Urbańska-Giner, CEE economist at HSBC.

“A stronger activity and deepening deflation in the PMI survey mirror the November real economy data with CPI deflation bigger-than-expected but Q3 2014 GDP growth stronger-than-expected,” she added.

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