Poland PMI August 2021


Poland: Manufacturing PMI falls to four-month low in August, but remains in expansionary terrain

September 1, 2021

The IHS Markit Manufacturing Purchasing Managers' Index (PMI) came in at a four-month low of 56.0 in August, down from July’s 57.6. That said, the index remained comfortably above the 50-threshold, signaling a continued improvement in business conditions from the previous month.

August’s reading largely reflected easing, albeit still solid, growth in new business. Moreover, strong foreign demand for manufactured goods resulted in a quicker pace of expansion in new export orders. Against this backdrop, output posted another solid expansion, which nonetheless failed to match demand. This, coupled with the softest growth in employment since September 2020, resulted in another increase in backlogs and prompted manufacturers to further exhaust their stocks of finished goods.

On the price front, input and output price inflation softened over the prior month, but remained elevated nonetheless. Lastly, firms’ confidence regarding the 12-month outlook fell to a four-month low; however, sentiment still remained strong overall, amid expectations of double-digit growth ahead.

FocusEconomics panelists expect fixed investment to expand 8.6% in 2021, which is up 0.8 percentage points from last month’s forecast. For 2022, the panel expects fixed investment growth at 6.9%.


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Poland PMI Chart

Poland PMI August 2021 0

Note: Markit Poland Manufacturing Purchasing Managers’ Index. Readings above 50 indicate an overall increase compared to the previous month, and below 50 an overall decrease.
Source: IHS Markit.

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