Poland: Manufacturing PMI drops in July, but conditions still improve
The IHS Markit Manufacturing Purchasing Managers’ Index (PMI) fell to 57.6 in July from June’s 59.4, which had marked an all-time high. That said, the index still remained well above the 50-threshold, signaling a continued improvement in business conditions from the previous month.
July’s reading chiefly reflected softer expansions in new orders and output compared to the previous month; however, the rate of growth was robust overall. Regarding employment, although firms raised staff levels further in July amid strong demand and efforts to bolster capacity, the rate of job creation moderated from the previous month. On the price front, input cost inflation eased somewhat from June, but remained elevated overall, while the same happened to output charge inflation. Lastly, firms’ confidence regarding the 12-month outlook fell to the lowest in three months due to supply concerns; however, sentiment still remained strong overall.