Polish manufacturing sector PMI reaches highest level in 25 months
September 4, 2013
Poland's purchasing managers' PMI, an index based on a survey of 300 industrial companies, increased to 52.6 pts in August from 51.1 pts in July, reaching its highest level in 25 months with the sentiment improving even in the case of employment, a survey prepared by Markit Economics for HSBC shows.
The level of 50 is the dividing point between contraction and expansion.
"Output, new orders, new export business and purchasing activity all grew at faster rates, and manufacturers increased employment for the first time in 12 months," the report reads.
Order growth was highest since March 2011, and increases were recorded in both domestic and export orders. The volume of new export business increased at the fastest pace since April 2011.
In production, the pace of expansion quickened to a 28-month record.
"Regarding inflationary pressures, input prices rose at a stronger rate, while output prices continued to decline," the report reads.
The above data are a sign that cyclical recovery in Poland is under way.