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Financial News: Poland Manufacturing Activity Stable In October

Poland Manufacturing Activity Stable In October

11/02/2020 - 06:01:00 (RTTNews)

(RTTNews) - Poland's manufacturing sector growth remained unchanged in October, survey data from IHS Markit showed on Monday.

The manufacturing Purchasing Managers' Index, or PMI, remained unchanged at 50.8 in October.

Economists had forecast a score of 51.1. Any reading above 50 indicates expansion in the sector.

New orders declined in October and output growth eased.

Production rose for the fourth month in a row in October, with the rate of growth easing for the third straight month.

New export business rose for the fourth month in a row and at the fastest since January 2018. Backlogs of works rose for the first time since July 2018.

The number of workforce expanded in October and the rate of job creation was the strongest since June 2018.

Purchasing activity expanded further in October and the volume of inputs orders rose at the fastest rate since June 2019. Suppliers' delivery time lengthened for the ninth month in a row.

Input cost inflation was the highest in twenty-three months in October and manufacturers rose their own prices charged at a faster rate.

Firms expect the output to increase over the next 12-months and the overall strength of sentiment was the weakest since May.

"The headline PMI is unmoved at 50.8 at the start of the final quarter of 2020, signalling an ongoing recovery in the sector but a clear lack of momentum," Trevor Balchin, economics director at IHS Markit, said.

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