Poland: Manufacturing PMI drops again in April, but remains entrenched in expansionary territory
May 4, 2015
The manufacturing Purchasing Managers’ Index (PMI) eased from 54.8 in March to 54.0 in April, according to a release provided by HSBC in collaboration with Markit. Despite April’s minor deterioration, which marked the third consecutive fall, the index is still resting comfortably above the 50-threshold that separates expansion from contraction in the manufacturing sector.
April’s reading mainly reflected smaller increases in new orders and employment. Markit pointed out that, “[a]lthough the PMI registered below the levels seen in the first quarter of the year, it remains at an elevated level in April and indicative of a strong overall improvement in manufacturing conditions.” New export orders grew at the fastest rate since February 2014, underpinned by the zloty’s weaker value against the dollar. The rate of job creation eased in April, but remained nonetheless at a historically high level.
Author: Eric Denis , Economist