Poland: Despite a slight decline, manufacturing PMI remains positive in December
January 2, 2015
The manufacturing Purchasing Managers’ Index (PMI) dropped from 53.2 in November to 52.8 in December, according to a release provided by HSBC in collaboration with Markit. Despite the slight decrease, the index is still above the 50-threshold that separates expansion from contraction in the manufacturing sector.
December’s decline was mainly the result of a drop in the stock of purchases. The rest of the components of the index recorded positive growth. Output expanded at the same pace as in the previous month in December, whereas new orders posted a solid improvement. Polish manufacturers’ work backlogs increased for the first time since May 2011. In addition, as pointed out by Markit, “job creation has been maintained since August 2013, and the rate of growth in the latest period edged up to the highest since April.”
Author: Cecilia Simkievich, Economist