Poland: Manufacturing PMI falls in August
September 1, 2015
The manufacturing Purchasing Managers’ Index (PMI) fell from 54.5 in July to 51.1 in August, according to a release provided by Markit. As a result of August’s deterioration, which marked the lowest value in almost a year, the index is now resting just above the 50-threshold that separates expansion from contraction in the manufacturing sector.
August’s reading mainly reflected sharp decelerations in growth rates for output, new orders and exports. In additions, firms reduced their purchasing activity and backlogs of work recorded significant falls. Markit pointed out that, "data for July and August suggest that manufacturing could weigh more heavily on economic growth in the third quarter. The latest survey also marked a return to falling output prices in the sector, following July’s rare increase.”
Author: Eric Denis , Economist