Poland PMI December 2016


Poland: Manufacturing PMI rises to highest level since July 2015

January 2, 2017

The Manufacturing Purchasing Managers’ Index (PMI) rose from November’s 51.9 to 54.3 in December, according to IHS Markit. The result marks the highest level in over one-and-a-half years and the index now lies further above the 50-threshold that separates expansion from contraction in the manufacturing sector.

December’s improvement reflected faster growth in output and new orders. The weak zloty helped boost export growth, which supported economic activity, and employment grew at the fastest pace in over one year. In addition, the zloty’s recent depreciation led to a rise in price pressures. Commenting on the result, IHS Markit analysts added, “the 14.5-point rise in the Input Prices Index observed during November and December was unprecedented over the survey history. […] This will add weight to the view that general inflationary pressures could grow more quickly than expected in 2017, although IHS Markit does not expect a shift in monetary policy until 2018.”

FocusEconomics Consensus Forecast panelists expect fixed investment to expand 3.2% in 2017, which is down 0.7 percentage points from last month’s estimate. For 2018, the panel sees fixed investment expanding 4.8%.

Author: Angela Bouzanis, Senior Economist

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Poland PMI Chart

Poland PMI December 2016

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

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