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Poland PMI May 2024

Poland: Manufacturing PMI falls in May

The S&P Global Poland Manufacturing Purchasing Managers’ Index (PMI) fell to 45.0 in May from 45.9 in April. As a result, the index moved further below the 50.0 no-change threshold, signaling a faster deterioration in manufacturing-sector operating conditions compared to the previous month.

May’s downtick was primarily due to faster declines in output, new orders, exports and employment. Demand for Polish manufactured goods—particularly from Germany and France—weakened further, with new orders and export sales both falling at the fastest rates since last October; the stronger zloty adversely affected competitiveness. Additionally, production and employment rates fell at the quickest pace in seven months.

Inflationary pressures in Poland’s manufacturing sector remained weak in May, with input costs and output prices rising only marginally. Meanwhile, business sentiment regarding the 12-month outlook for production improved slightly, driven by optimism about new products, new customers, investments in machinery and an anticipated economic recovery both domestically and across the wider European Union. This optimism, however, remained below the long-run trend level, which is based on data going back to 2012.

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