Poland: Manufacturing PMI inches down in March
April 3, 2017
The Manufacturing Purchasing Managers’ Index (PMI), decreased from 54.2 points in February to 53.5 points in March, according to IHS Markit. March’s reading was a four-month low but the index remains firmly above the 50-threshold that separates expansion from contraction in the manufacturing sector.
March’s result reflected slower growth in output, new orders and employment but also confirmed the overall improvement in manufacturing conditions in the country. Thanks to a larger workforce and weaker new order growth, manufacturers were able to decrease their backlog of work in March and unfinished work continued to fall. Regarding prices, inflationary pressure emerged from a volatile exchange rate and input prices rose steeply in March. Sam Teague, economist at IHS Markit confirmed the bright picture, commenting that “a slight slowdown in growth and substantial price pressures in the latest period failed to cast a shadow over manufacturing firms – optimism instead improved to a 13-month high.”