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Polish PMI eases from record high

02.08.2021 11:45
Poland’s Purchasing Managers' Index (PMI) retreated from its all-time high last month, but the country's manufacturing sector continued to improve strongly as the coronavirus crisis receded, according to IHS Markit, a UK-based provider of financial information services.
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The British market researcher reported on Monday that the Polish PMI fell from June's record high of 59.4 to 57.6 in July.

But it said the latest figure "was still the second-highest level on record" and "signalled a marked overall improvement" in manufacturing business conditions.

"There was a slight loss of momentum from June's record pace, reflecting slower growth in output, new orders, employment and input stocks, but these all continued to expand at historically sharp rates," IHS Markit said.

Its Economics Director Trevor Balchin was cited as saying that the "Polish manufacturing recovery cooled somewhat in July following June's record performance, but overall conditions continued to improve markedly with the PMI at its second-highest ever level."

Poland’s PMI in April last year fell to its lowest level on record amid virus fears, sinking to 31.9 from 42.4 a month earlier at the height of the COVID-19 crisis, according to the British market researcher.

The PMI is a composite indicator of manufacturing performance evaluated on the basis of new orders, output, employment, suppliers’ delivery times and stocks of purchases.

Any figure greater than 50 indicates overall improvement of the sector, according to IHS Markit.

(gs)

Source: PAP, markiteconomics.com