Poland skyline at golden hour

Poland PMI June 2020

Poland: Deterioration in manufacturing conditions eases further in June

The IHS Markit manufacturing Purchasing Managers’ Index (PMI) recovered further ground and rose from May’s 40.6 to 47.2 in June. However, the index remained stuck below the crucial 50-threshold, indicating worsening conditions in the manufacturing sector, where it has been for over one year.

The improvement in the headline PMI came on the back of softer declines in output, new orders and employment. That sad, production and new orders continued to contract, and exports also kept falling. As a consequence, manufacturers reduced their staff numbers, although the pace of job shedding softened. On the price front, input costs rose again while firms continued to cut their output prices in a bid to attract clients, thus weighing on profit margins. Meanwhile, businesses sentiment improved in June on a stronger production outlook.

Commenting on the release, Lewis Copper, economist at HIS Markit, stated:

“While some may be surprised that the headline figure has not soared into growth territory following the collapse in activity witnessed in the spring, it should be remembered that the manufacturing sector was experiencing deteriorating conditions well before the coronavirus crisis took hold – the PMI has languished below 50.0 since November 2018, the longest downturn in over 17 years.”

Free sample report

Access essential information in the shortest time possible. FocusEconomics provide hundreds of consensus forecast reports from the most reputable economic research authorities in the world.
Close Left Media Arrows Left Media Circles Right Media Arrows Right Media Circles Arrow Quote Wave Address Email Telephone Man in front of screen with line chart Document with bar chart and magnifying glass Application window with bar chart Target with arrow Line Chart Stopwatch Globe with arrows Document with bar chart in front of screen Bar chart with magnifying glass and dollar sign Lightbulb Document with bookmark Laptop with download icon Calendar Icon Nav Menu Arrow Arrow Right Long Icon Arrow Right Icon Chevron Right Icon Chevron Left Icon Briefcase Icon Linkedin In Icon Full Linkedin Icon Filter Facebook Linkedin Twitter Pinterest