PMI slows down again in May
22:50
Poland’s Manufacturing PMI inched down to 50.8 points in May, edging closer to stagnation, according to a press release from HSBC and Markit Economics. It declined for the third consecutive month, but it remained slightly above the neutral level of 50.
“Growth of both output and new orders slowed for the third successive month to weak rates, and new export orders fell for the first time since May 2013,” the institutions wrote.
“The manufacturing PMI survey continued to show improving business conditions in May, but at a slowing pace,” said Agata Urbańska-Giner, CEE economist at HSBC. “The PMI survey supports our expectations of economic activity consolidating in 2014 with GDP growth at just over 3 percent year-on-year.”
