Poland: Manufacturing PMI edges down to year-low
July 1, 2014
The manufacturing Purchasing Managers’ Index (PMI) inched down from 50.8 in May to 50.3 in June according to a release provided by HSBC. The new PMI reading undershot market expectations of a rise to 51.0 and represents the lowest result in a year. The index has suffered four consecutive declines and is now barely holding on above the 50-threshold that indicates expansion in the manufacturing sector.
June’s figure was weighed down by stagnation in the new orders category, which dipped below the 50-threshold and reached to the lowest level since last May. Moreover, the volume of inputs purchased by manufacturers declined for the second consecutive month. Input and output prices also registered declines. Meanwhile, output and employment expanded only modestly.
Author: Carl Kelly, Economist