Poland PMI July 2016


Manufacturing PMI falls to almost two-year low in July

The Manufacturing Purchasing Managers’ Index (PMI) fell from June’s 51.8 to 50.3 in July, according to a release provided by IHS Markit. As a result, the index remains just slightly above the 50-threshold that separates expansion from contraction in the manufacturing sector.

July’s downturn mainly reflected a fall in new orders, which declined for the first time since September 2014. Manufacturers reduced stocks of inputs and finished goods, while output was broadly stable from the previous month. Employment—a bright spot in the survey—continued to grow at a healthy pace. IHS Markit analysts noted that, “whether jobs growth can be maintained in the coming months depends on whether new work continues to fall, and to what extent. Employment growth was sustained during the previous downturn in new orders, which lasted from June to September 2014 but was generally modest.”

FocusEconomics Consensus Forecast panelists expect fixed investment to expand 1.9% in 2016, which is down 1.0 percentage points from last month’s estimate. For 2017, the panel sees fixed investment expanding 4.4%.

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Poland PMI Chart

Poland PMI July 2016

Note: IHS Markit Poland Manufacturing Purchasing Managers’ Index. Readings above 50 indicate an expansion in the manufacturing sector while readings below 50 indicate a contraction.
Source: IHS Markit.

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