The international financial services company reported on Monday that the Polish PMI rose for the fourth month running from 48.6 in September to 49.2 in October, "indicating only a fractional 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 for the fourth straight month in October and indicated a near-stabilisation of the manufacturing sector."
He added that "both output and employment rose during the month, albeit at modest rates in each case."
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 an overall improvement in the sector.
Poland’s PMI in April 2020 fell to its lowest level on record amid coronavirus fears, sinking to 31.9 from 42.4 a month earlier at the height of the COVID-19 crisis.
(gs)
Source: PAP, pmi.spglobal.com