Poland’s manufacturing expansion slows down in December
January 3, 2014
Poland's purchasing managers' index PMI, a gauge of manufacturing, fell to 53.2 points in December from 54.4 pts in November, breaking seven months of consecutive gains, a PMI report by HSBC and Markit showed.
"The rates of growth for output, new orders and exports all remained strong, but were weaker than in November," HSBC and Markit said in their statement. "The underlying strength of demand in the sector was further illustrated by ongoing solid increases in both input volumes and employment."
New order growth held for the seventh successive month, albeit at a rate slower than the 34-month record set in November. Output rose for a sixth straight month, again at a slower pace, the slowest since July.
Backlogs fell "solidly" during the month, analysts wrote.
"The solid increase in new orders necessitated another sharp increase in purchasing activity in December," analysts wrote, citing the fastest gain in input volume orders since March 2011.