Poland Factory Activity Sustains Contraction in January
Image by Pexels
Poland's manufacturing Purchasing Managers' Index, or PMI, rose to 47.5 in January 2023 from 45.6 in December, survey data from S&P Global showed on Wednesday.
Still, the reading marked the ninth month of contraction, as production and new orders continued to fall, albeit at softer rates, amid poor market demand, a challenging business environment, and stagnant economic output.
Sales dropped for both domestic and international markets, with new export orders falling for the eleventh month in a row, linked to weak demand in Western European markets.
The continued decrease in production and order books discouraged purchasing activity and prompting firms to lower employment. Also, companies preferred to use existing resources, pushing inventories to reduce for eight consecutive months.
Moreover, both input cost and output charges rose at a quicker rate. On a positive note, overall confidence improved to its highest level since May 2022, reflective of some growing optimism about demand and price trends in 2023.
ADVERTISEMENT
Gross Average Earnings at HUF 528,800 in January
Hungarian Lawmakers Ratify Finland's NATO Accession
Graphisoft Park Delays Transition to Dividend Payment in EUR
HIPA Awards 'Investors of the Year'
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
