PMI inches down in March
22:50
The Poland Manufacturing PMI indicator, calculated by HSBC and Markit Economic, declined to 54 points in March compared to 55.9 points in February. This was the second downward movement within the last 11 months.
PMI for Poland’s manufacturing sector has however remained higher than 50 points over the past nine months, signaling improving market conditions.
New export orders grew at a slowest rate since June 2013, the institutions remarked. A number of the surveyed companies connected this to the uncertainty around the crisis in Ukraine.
“We assume further pick-up in GDP growth in Q1 2014 with more bias towards some consolidation in the rates of growth in the following quarters. We see limited inflationary pressure and CPI staying below the 2.5% central bank target this and next year,” Agata Urbańska-Giner, CEE economist at HSBC was quoted as saying.
