The international financial services company reported on Friday that the Polish PMI "remained above 50.0 for the third month running," standing at 50.2 in April, down from 50.7 in March, "indicating a sustained overall improvement in business conditions at manufacturers."
S&P Global said that "business conditions in the Polish manufacturing sector improved for the third month running in April."
It added, however, that "there were warning signs that the current upturn was fragile ... as new orders fell and the 12-month outlook weakened sharply."
Although output rose in April, demand for Polish manufactured goods fell slightly, S&P Global also said.
Trevor Balchin, economics director at S&P Global Market Intelligence, was cited as saying that "the nascent recovery in the Polish manufacturing sector was under threat in April despite faster growth in output and a renewed rise in employment."
He added that "confidence and new work may rebound in May as faster growth in eurozone manufacturing output ... should underpin demand for Polish goods."
'The recovery in Polish industry continues': Polish finance minister
Polish Finance Minister Andrzej Domański welcomed the news, saying that "the recovery in Polish industry continues despite tensions in global trade."
He noted that the PMI remained above 50 for another consecutive month, amid growing production and employment.
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 an overall improvement in the sector.
Poland's PMI in April 2020 fell to its lowest level on record amid coronavirus fears, sinking to 31.9 from 42.4 a month earlier at the height of the COVID-19 crisis.
(gs)
Source: PAP, pmi.spglobal.com