The international financial services company reported on Monday that the Polish PMI rose to 49.1 in November, up from 48.8 in October and well above June's 20-month low of 44.8, bringing it closer to the neutral 50.0 mark that separates contraction from growth.
S&P Global said the reading "remained slightly below the neutral 50.0 threshold but signalled only a marginal deterioration in operating conditions."
Manufacturers in Poland "remained optimistic about raising output over the next 12 months," the firm added, citing expectations of "market expansion, new products, increased demand, company optimisation and production efficiency improvements."
S&P Global also reported that output levels were close to stabilising in November, while export orders rose slightly, marking their first increase since March.
Trevor Balchin, economics director at S&P Global Market Intelligence, was cited as saying that, although the Polish PMI remained in negative territory in November, it "continued to move in the right direction."
He added that the figure "rose for the fifth successive month and signalled that overall growth could return to the Polish manufacturing sector by the end of the year."
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.
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Source: PAP, pmi.spglobal.com