Poland Manufacturing Downturn Deepens in June

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Poland's manufacturing contraction worsened in June amid a marked fall in output, new orders, and purchasing activity, survey data from S&P Global showed. The manufacturing Purchasing Managers' Index, or PMI, dropped to 45.1 in June from 47 in May.

A PMI reading below 50 suggests contraction in the sector.

Among the five components of the headline index, new orders, output, employment, and stocks of purchases contributed most negatively. Germany was cited as a major source of weakness in export new business in June.

Due to poor underlying demand for Polish manufactured goods, the output plummeted to a seven-month bottom, while new orders dropped at the fastest rate since December 2022.

However, the average time taken for input deliveries shortened for the second month.

On inflation, output prices eased to a record low, and input prices decreased at the second-fastest pace in the 25-year survey history. Finally, confidence in the future remained subdued.

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