Poland Factory Activity Remains in Downturn in November

Manufacturing

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Poland's manufacturing Purchasing Managers' Index, or PMI, rose to 43.4 in November from 42 in October, survey data from S&P Global showed on Thursday.

The reading pointed to the seventh month of contraction, as output and new orders declined again on the back of a challenging macroeconomic climate, which weakened demand.

Similarly, new export orders decreased, marking its ninth month of consecutive fall.

On prices, cost sank to its lowest level in two years amid reports of previous difficulties related to stock, sourcing, and logistics were dissipating; and as manufacturers lowered their purchasing activity. However, prices continued to rise at an elevated rate pushed by surging gas and electricity prices.

Meanwhile, employment decreased for six months in a row, as firms were forced to lower staff amid a backlash of a sharp fall in sales and production.

Finally, overall confidence improved to a three-month high, but is still at levels of historically low due to concerns about recession and high inflation.

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