Poland: Manufacturing PMI hits 23-month low in September
October 1, 2018
The manufacturing Purchasing Managers’ Index (PMI), released by IHS Markit, fell to 50.5 in September from 51.4 in August, the worst reading in nearly two years. As a result, it landed just above the 50-point threshold that separates expansion from contraction in the manufacturing sector, where it has now been for almost four years—the longest expansion recorded since the survey began nearly two decades ago.
September’s reading pointed to the near-stagnation of the manufacturing sector, led by a fall in new orders and, in particular, new export orders. As a result, output and employment grew only weakly. Backlogs of work fell, while firms eased up on purchasing activity. Higher raw-material prices kept inflation elevated, although price pressures moderated from a month earlier. Meanwhile, firms remained upbeat but lowered their expectations for the sixth time in eight months.
Poland Fixed Investment Forecast
FocusEconomics Consensus Forecast panelists expect fixed investment to expand 7.7% in 2018, which is unchanged from last month’s estimate. For 2019, the panel sees fixed investment expanding 4.8%, also unchanged from last month’s forecast.
Author: Christopher Thomas, Economist