PMI indicator for Poland grows 52.2% m/m in September

The Purchasing Managers' Index (PMI) for the Polish industrial sector, grew 52.2 percent in September, up from 51.5 percent in the previous month, according to a report published by Markit. This is the 24^th straight month that the PMI indicator has remained above the neutral 50 threshold, indicating rapid improvement of economic conditions in the Polish industrial sector. Any figure above 50.0 indicates overall improvement of the sector. The latest figures signal the fastest growth since March, based on three sub-indexes: production volume, number of new orders, and delivery times. This is largely due to an increased inflow of export contracts. Markit points out that in September the industrial sector picked up steam after a slowdown at the start of Q3. “The recovery observed in the past two months of surveys also confirms official data concerning the volume of industrial production, according to which it rose 9.4 percent y/y after a 2.8 percent fall in July,” said Trevor Balchin, senior IHS Markit economist and author of the report. The latest Markit forecast expects 3.4 percent growth, both in production and GDP.