The international financial services company reported on Monday that the Polish PMI rose to 50.6 in February, from 48.8 in January, "indicating an overall improvement in business conditions at manufacturers for the first time since April 2022."
S&P Global said that "the upward movement in the PMI reflected renewed increases in new orders, output and employment, and a near-stabilisation in stocks of purchases."
Trevor Balchin, economics director at S&P Global Market Intelligence, was cited as saying that the Polish PMI "finally breached the no-change threshold of 50.0 in February, propelled by renewed expansions in new orders, output and jobs, and a stabilisation of input stocks."
He added that "the last time the PMI registered an overall improvement in business conditions was in April 2022."
Polish Prime Minister Donald Tusk welcomed the news, saying: "The recovery in Polish industry is becoming a fact."
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.
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Source: PAP, pmi.spglobal.com