Poland manufacturing sector deteriorates at record pace
Image by Skorzewiak / Shutterstock.com
Poland’s manufacturing sector deteriorated at a record pace in April, amid falling output, new orders and exports, survey data from IHS Markit showed on May 4.
Image by Skorzewiak / Shutterstock.com
The manufacturing Purchasing Managers’ Index, or PMI, fell to 31.9 in April from 42.4 in March. Any reading below 50 indicates contraction in the sector. This was the worst deterioration since the survey began in June 1998.
Suppliers’ delivery times lengthened at a record pace in April. Output and new orders declined to a record low. Employment fell at a near record pace and input inventories declined at the strongest rate since May 2009.
New export orders also fell at a record pace in April. Backlogs of work and purchasing activity decreased at the fastest rate. Input prices rose at a softest rate in three months in April and output prices declined at the strongest rate in five-and-a-half years.
The 12-month outlook was the weakest on record in April due to the impact of economic lockdown, Markit Economics said. A similarly dramatic picture was also seen in the Czech Republic.
ADVERTISEMENT
ÁKK Sells HUF 60.5 bln of Bonds at Auction, Double Plan
Nearly 40% of Poles Report Worsening Financial Situation - S...
New Car Registrations in Hungary Fall 10% in August
New Generation Internet Forum 2023 Coming in November
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.
