Poland PMI


Poland: Manufacturing PMI falls in February, but remains entrenched in expansionary territory

March 2, 2015

The manufacturing Purchasing Managers’ Index (PMI) moderated from 56.2 in January to 55.1 in February, according to a release provided by HSBC in collaboration with Markit. Despite February’s minor deterioration, the index still rests comfortably above the 50-threshold that separates expansion from contraction in the manufacturing sector.

February’s reading reflected increases in manufacturing output, new orders and in employment. Despite having eased somewhat since January, manufacturing output posted strong growth in February. New orders increased for the fifth consecutive month, albeit at a slower rate compared to January’s 11-month-high. Regarding job creation, Markit stated that, “survey data indicated a near-record increase in Polish manufacturing employment in February. The rate of job creation accelerated for the third month running to the highest since January 2014’s record, and was the second-fastest in the series history.” Meanwhile, input prices rose marginally following two months of declines.

FocusEconomics Consensus Forecast panelists see industrial production rising 4.5% in 2015, which is unchanged from last month’s estimate. For 2016, the panel expects industrial production to increase 5.6%.

Author:, Economist

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Poland PMI Chart

Poland PMI February 2015 4

Note: HSBC Poland Manufacturing Purchasing Managers’ Index. Readings above 50 indicate an expansion in the manufacturing sector while readings below 50 indicate a contraction.
Source: HSBC and Markit.

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