Poland: Manufacturing sector contracts sharply in December
January 2, 2019
The manufacturing Purchasing Managers’ Index (PMI), released by IHS Markit, experienced further downturn in December, dipping to 47.6 points (November: 49.5 points). The index has fallen precipitously since mid-2018, and in November first landed below the 50-point threshold that separates contraction from expansion in the manufacturing sector.
December’s reading pointed to falling output and new orders as export markets continued pulling back. Unemployment was broadly stable from a month earlier, while firms were able to clear backlogs of work. Purchasing activity dipped despite weaker input-price inflation. Looking ahead, however, firms were more optimistic on short-term output.
Author: Christopher Thomas, Economist