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Financial News: Poland Manufacturing Growth Rises Unexpectedly In December

Poland Manufacturing Growth Rises Unexpectedly In December

01/03/2022 - 07:30:00 (RTTNews)

(RTTNews) - Poland's manufacturing sector growth unexpectedly improved in December, survey data from IHS Markit showed on Monday.

The manufacturing purchasing managers' index, or PMI, rose to 56.1 in December from 54.4 in November. This was the strongest since July.

Economists had forecast a score of 54.1. A PMI reading above 50 suggests growth in the manufacturing sector.

Output and new orders increased since July and August, respectively. New export orders rose for the first time in four months.

Lead time continued to lengthen in December. Input cost and output charges increased in December.

Firms remained confident about the next 12 months.

Employment increased in December and backlogs of work rose for the fifteenth month in a row.

"The emergence of the Omicron variant of COVID-19 will naturally lead to concerns that economic recoveries will be knocked off course in the short-term, whilst challenges related to supply-side and inflation persist and show little real signs of easing," Paul Smith, economics director at IHS Markit, said.

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