15:22 3 June 2024
PIE: sentiment of Polish industrial companies has deteriorated
The sentiment among industrial firms in Poland has worsened, with weaker performance across all components except inventory assessments, according to PIE economists commenting on the May PMI index. Despite this, a rebound in domestic and regional consumption is expected to boost industrial activity in the coming months.
The Polish manufacturing PMI for May was 45.0 points, down from 45.9 in April, indicating the 25th consecutive month of decline—the longest streak since the survey began in 1998. New orders, exports, production, and employment all decreased at a faster rate in May.
PIE economists noted that while current sentiment is poor, there are signs of gradual improvement, with better evaluations of both the current situation and future order portfolios. Industrial production is expected to improve, driven by decreasing inflation and rising consumption. Focus Economics forecasts a 3.1% production increase in 2024, one of the highest in Europe.
(PAP)
