Poland: Manufacturing conditions improve at fastest pace in two years in July
The IHS Markit manufacturing Purchasing Managers’ Index (PMI) rose for the third consecutive month and climbed from June’s 47.2 to 52.8 in July, as lockdown measures were further eased and operations restarted. The result marked the highest reading since June 2018. Therefore, the index moved above the crucial 50-threshold, indicating improving conditions in the manufacturing sector, below which it had been for over one year.
The improvement in the headline PMI came on the back of expansions in output, new orders and exports—which grew for the first time since July 2018. That said, manufacturers continued to reduce 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. Meanwhile, businesses sentiment improved, albeit only slightly, as the long-term implications of the pandemic remained uncertain.