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Financial News: Poland Manufacturing Contracts For Sixteenth Month

Poland Manufacturing Contracts For Sixteenth Month

03/02/2020 - 07:13:00 (RTTNews)

(RTTNews) - Poland's manufacturing sector deteriorated for the sixteenth month in a row in February, though at a softer pace, amid a decline in output, new orders, and employment, survey data from IHS Markit showed on Monday.

The manufacturing purchase managers' index, or PMI rose to a six-month high of 48.2 in February from 47.4 in January. Any reading below 50 indicates contraction in the sector.

Output and new orders both decreased for the sixteenth month in a row in February. New export orders fell for the nineteenth straight month and at the sharpest rates since the global financial crisis over ten years.

Backlogs of work decreased for the nineteenth month in a row in February.

Workforce were reduced in February with continued fall in new and outstanding work. The rate of job shedding eased to the second-fastest in nearly seven years.

Purchasing activity fell for the fifteenth straight month in February and stocks of inputs declined for the eighth month in a row. Meanwhile, final goods inventories grew for the first time in four months.

Suppliers' delivery time lengthened in February with lowered demand for inputs. Firms linked supplier delays due to the outbreak and issues of coronavirus at suppliers and sub-contractors.

Input price inflation grew sharply to the highest in thirteen months and output prices increased at the fastest rate for nearly a year.

The twelve-month outlook were positive in February and remained weak in the context of historic survey data.

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