Poland manufacturing sector recovers in July
Photo by Oscar Sweep / Shutterstock.com
Polandʼs manufacturing sector expanded for the first time in nearly two years, survey data from IHS Markit showed on Monday.
Photo by Oscar Sweep/Shutterstock
The countryʼs manufacturing Purchasing Managersʼ Index (PMI) rose to 52.8 in July from 47.2 in June.
Any reading above 50 indicates expansion in the sector. Business conditions deteriorated every month since November 2018.
New orders increased in July as lockdown restrictions were eased and the rate of growth was the biggest since July 2018. New export orders rose for the first time in two years in July.
Output rose for the first time since October 2018 at the strongest rate since December 2017. Backlogs of work fell for the twenty-fourth straight month in July, with the rate of decline being slowest since January.
Jobs continued to be shed in July, though at the slowest pace in seven months.
Input prices rose in July at the slowest rate thus far this year, while prices charged by manufacturers fell for the fourth month in a row.
Firms remained confident of output growth over the next 12 months.
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