Poland's Purchasing Managers' Index (PMI) fell 0.9 points to 45 in May (chart), the economic intelligence company S&P Global said on June 3.
The reading missed the consensus, which assumed a gain of 1.1 points to 47. The indicator has now lingered below the 50-point mark separating contraction from growth for 25 months straight, the longest series since the survey began in 1998.
“New orders, exports, output and employment all declined at faster rates during the month, and purchasing activity fell for a record twenty-fourth month running,” S&P Global said.
On a positive note, “inflationary pressures were muted and the 12-month outlook improved slightly,” S&P Global said.
The May reading extends the waiting time for a sustained recovery in Poland’s manufacturing sector, which appears to lag the trend in the Eurozone countries, Poland’s key trade partners.
'The weaker Polish data are at odds with the latest flash eurozone figures, as manufacturing production in the single currency bloc moved towards stability,” said S&P Global’s economic director Trevor Balchin.
May data from Poland's industrial sector – production and the PPI – will be published by the statistical office GUS in late June.
Meanwhile, Poland’s industrial sector – covering manufacturing, energy production, mining and quarrying, as well as water and waste management – returned to growth in April.
Output expanded 7.9% year on year after a surprise fall of 5.6% y/y the preceding month, GUS said in May.
Meanwhile, Poland's producer price index (PPI) declined 8.6% y/y in April, following a revised fall of 9.9% y/y in March, GUS also said.
GUS will publish May industrial production and PPI data in late June.
