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Polish PMI rebounds in November

02.12.2019 10:48
Poland’s Purchasing Managers' Index (PMI) rose to 46.7 points in November, from 45.6 points in October, according to Markit, a UK-based provider of financial information services.
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The latest data came after Poland’s PMI in October hit its lowest level in over a decade, falling from 47.8 points in September.

The British market researcher was quoted as saying at the time that the data signaled “a worsening downturn” in Poland’s manufacturing sector.

A neutral PMI reading of 50 points means that businesspeople in the country feel the economy will not change over the coming month.

A higher figure means the economy is expected to improve, while a PMI reading below 50 points indicates that many think it will deteriorate.

The Polish economy grew 3.9 percent in the third quarter of this year, the country’s Central Statistical Office (GUS) said at the end of last month in a final estimate.

The country’s central bank chief, Adam Glapiński, said in early October that the Polish economy was in "excellent" shape and on track to grow 4.3 percent in 2019.

Glapiński said in mid-October that the Polish economy was set to lose some of its momentum amid a global slowdown, but the country’s GDP growth would remain solid.

(gs)

Source: PAP