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Financial News: Poland Manufacturing Growth Eases Unexpectedly To 6-Month

Poland Manufacturing Growth Eases Unexpectedly To 6-Month Low

06/01/2017 - 06:09:00 (RTTNews)

(RTTNews) - Poland's manufacturing activity expanded at the weakest pace in six months in May, survey figures from IHS Markit showed Thursday.

The Purchasing Managers' Index, or PMI, dropped to 52.7 in May from 54.1 in April. Meanwhile, economists had expected the index to rise to 54.5.

However, any reading above 50 indicates expansion in the sector.

Among components, both output and new orders grew at slower rates in May. The rate of job creation across the sector eased to a 7-month low.

On the price front, input prices rose sharply in May, driven by higher raw material costs. Nonetheless, the rate of inflation eased further from April. Output price inflation was the weakest in six months.

"Business confidence meanwhile eased slightly but remained strong overall. Approximately half of businesses forecast an expansion in output during the next 12 months, attributing confidence to an expected economic upturn in both domestic and export markets, " Sam Teague, economist at IHS Markit, said.

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