Poland: Manufacturing sector nears stagnation in October
The manufacturing Purchasing Managers’ Index (PMI), released by IHS Markit, stemmed its losses in October, remaining broadly stable from a month earlier at 50.4 points (September: 50.5 points). Despite posting its worst reading in two years, the index 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.
October’s reading pointed to the near-stagnation of the manufacturing sector, led by a negligible rise in new orders and—in particular—another decline in export orders. As a result, output grew only weakly while employment levels and backlogs of work fell. Meanwhile, purchasing activity appeared to firm up and inflation remained elevated on higher raw-material prices. For their part, firms lowered their one-year expectations for the fifth straight month.