The international financial services company reported on Monday that the Polish PMI rose for the second month running from 47.3 in July to 47.8 in August, "indicating a slower deterioration in manufacturing business conditions."
S&P Global said that the latest data "signalled a further, albeit slower, deterioration in business conditions in the Polish manufacturing sector."
Trevor Balchin, economics director at S&P Global Market Intelligence, was cited as saying that the Polish PMI "rose to a five-month high in August, reflecting slower declines in output, new orders and jobs."
He added that incoming data pointed to an "improvement in the year-ahead outlook," with "overall confidence the highest in six months."
Poland’s PMI in April 2020 fell to its lowest level on record amid virus fears, sinking to 31.9 from 42.4 a month earlier at the height of the COVID-19 crisis.
The PMI is a composite indicator of manufacturing performance evaluated on the basis of new orders, output, employment, suppliers’ delivery times and stocks of purchases.
Any figure greater than 50 indicates overall improvement of the sector.
(gs)
Source: PAP, pmi.spglobal.com