Polish economy's prospects worst in the world
13:11
Polish industrial entrepreneurs are currently the world's biggest pessimists. They see the future of the sector mainly in black colors. The situation in Hungary is quite the opposite. Subsequent agreements with Gazprom put the industry there in an extremely favorable position in competition with the rest of the world.
Hungary's industrial PMI came in at 57.8 points, up from 58 the previous month, indicating continued high growth. 50 points are the equilibrium level, and anything above that means growth. The results of the Hungarian economy were also reported on Thursday, and GDP there grew by 1 percent q/q and 6.5 percent y/y in the second quarter. As a reminder, Polish GDP fell 2.1 percent q/q and grew 5.5 percent y/y.
Poland, moreover, is at the bottom of the list of countries monitored by S&P Global. Our PMI was only 40.9 points, a sharply declining figure, and one of the worst readings in the history of measurement.
In the mood of industrial companies, it is hard not to notice the impact of energy commodity prices. Hungary signed a contract with Gazprom on September 1 to supply 5.8 million cubic meters of gas. In addition to Hungary, on the upward side is India's industry, which is reaping the full benefits of access to cheaper Russian oil.
