Industrial PMI down to 52.9 points, lowest in 11 months

Polish industrial sector PMI dropped to 52.9 points in July from 54.2 points recorded the previous month, research firm Markit informed. This is the lowest reading over the past 11 months, signaling a slower growth rate, Markit stated. Market consensus put the figure at 54.2 points. “The latest reading is still above medium-term average of 50.6, prolonging the growth trend to 46 consecutive months,” the firm said in a press release. The number of new orders and employment in July grew faster than the long-term average. Further cost inflation caused the highest price increases since March 2011, Markit explained.