Poland PMI November 2018


Poland: Manufacturing sector contracts in November

November 30, 2018

The manufacturing Purchasing Managers’ Index (PMI), released by IHS Markit, fell into pessimistic territory for the first time in over four years in November, logging 49.5 points (October: 50.4 points). The index had waned for six months previous to landing below the 50-point threshold that separates contraction from expansion in the manufacturing sector. Nevertheless, the result was in line with analysts’ expectations of a near-term slowdown of the Polish economy.

November’s reading pointed to contractions in new orders, output and employment—all in line with the recent slowdown across European economies. Flailing demand from Germany held back export orders. Meanwhile, lower volumes of backlogs matched the fall in workforce numbers. On the other hand, manufacturers’ purchases accelerated but remained below average. For their part, firms lowered their one-year expectations for the third month in a row.

FocusEconomics Consensus Forecast panelists expect fixed investment to expand 5.3% in 2019, which is up 0.1 percentage points from last month’s forecast. For 2020, the panel sees fixed investment expanding 4.5%.


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Poland PMI Chart

Poland PMI November 2018

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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