Poland Factory Activity Shrinks Further in July
Image by Pixabay
Poland's manufacturing Purchasing Managers' Index (PMI) dropped to 43.5 in July from 45.1 in June, remaining contractionary for the 15th month and marking the worst reading since November 2022, as the sector remained exposed to weak European markets, survey data from S&P Global showed.
Four out of five components deepened their declines (new orders, output, employment, and stocks of purchases) amid widespread muted demand. Total new business shrank at the fastest pace in eight months, while new export orders were down the most since May 2020, when the first wave of the pandemic hit.
At the same time, production scaled back for the 15th month, but backlogs of work decreased. Employment fell for the 14th month, with companies being reluctant to replace leavers due to lower workloads.
Meanwhile, suppliers' delivery times shortened again. On inflation, both input and output costs saw record reductions. The future outlook worsened compared to June's, and co nfidence was below the series average.
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.