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I UNDERSTAND
English Section

Polish PMI regains ground after record low amid epidemic

01.06.2020 11:30
Poland’s Purchasing Managers' Index (PMI) rose to 40.6 in May after plunging to its lowest level on record the previous month amid the coronavirus pandemic, a study released on Monday said.
Image by Mediamodifier from Pixabay
Image by Mediamodifier from Pixabay Pixabay License

In April the index fell to 31.9 from 42.4 in March, according to Markit, a UK-based provider of financial information services.

Markit said that uncertainty was a key factor in May, with most companies not able to predict what production levels would be in a year's time.

A neutral PMI reading of 50 means that businesspeople in a 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 indicates that many think it will deteriorate.

Polish lawmakers at the end of April backed a plan to expand a massive relief and stimulus package of measures aiming to shield the economy from the coronavirus pandemic. 


(pk)

Source: IAR