16:04 1 August 2024
PMI index for industry in Poland continues 27 month slowdown
The PMI for Poland's manufacturing sector was 47.3 points in July, up from 45.0 in June, marking the 27th consecutive month below 50.0, the longest streak since 1998. New orders, production, exports, purchases, and employment continued to decline, albeit at a slower pace than in June. Inflationary pressure in the manufacturing sector remained subdued, with price indices well below their long-term averages.
July saw further drops in new orders, exports, and production, continuing record declines. Backlogs and employment also fell, with employment reduction reflecting retirements and layoffs of temporary workers. Purchasing activity decreased for the 26th month, though stockpiling of production inputs increased slightly in anticipation of rising raw material prices. Delivery times lengthened, surpassing the long-term average, while inflationary pressures remained weak with minimal cost increases and significant product price reductions.
(wnp.pl)
