Poland’s manufacturing sector contracted at a slower pace in June, survey data from IHS Markit showed on Wednesday.
The manufacturing Purchasing Managers’ Index, (PMI) rose to 47.2 in June from 40.6 in May. Any reading below 50 indicates contraction in the sector.
The gain was the second biggest in the series history. New orders continued to fall in June and demand remained weak amid COVID-19 crisis. New works declined to the weakest since August 2019. New export business continued to fell in June and new contracts placed with international clients continued declining since August 2018.
Output fell for the twentieth month in a row in June, though at the slowest rate in four months. Employment rate reduced further with the rate of job shedding slowest in four months. Firms were more optimistic regarding the 12-month outlook for production in June. Firms reduced purchases and stocks of new inputs in June and suppliers’ delivery time lengthened slightly.
On the price front, input prices rose in June, while output prices fell for the third straight month. The rate of input cost inflation was the slowest in seven months.