Poland: Manufacturing PMI drops again in April
The S&P Global Manufacturing Purchasing Managers’ Index (PMI) came in at 52.4 in April, down from 52.7 in March. The index remained above the 50-threshold, signaling a continued, albeit weaker, improvement in business conditions from the prior month.
New orders contracted for the second consecutive month and fell at a sharper rate than in March, weighed down by the war in Ukraine. Meanwhile, employment and output increased at soft paces. On the price front, input costs increased markedly amid supply shortages and higher raw material prices, while output prices surged at the fastest pace on record. Lastly, firms’ confidence about the future remained subdued, amid supply constraints, strong price pressures and the war in Ukraine.
Commenting on the latest survey results, Paul Smith, analyst at S&P Global, said:
“Many of the issues facing Poland’s manufacturing economy highlighted last month spilled over into April, according to the latest PMI survey data. Stretched supply chains, rapidly rising prices and heightened uncertainty due to the war in Ukraine all continued to impact the sector.”