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PMI highest since April 2011

9th December 2013
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Conditions in Poland’s manufacturing sector continued to improve in November, according to the most recent reading of the PMI index published by HSBC and Markit Economics. The figure for November was 54.4 compared to 53.4 in October. This was the highest reading since April 2011. 


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New orders increased at the fastest rate since the start of 2011, and output rose at the strongest pace in over two-and-a-half years,” the financial institutions wrote in a press release. New export business growth was slower than in October, but still high.

The improvement was broad-based while higher new orders and output contributed the strongest. Firms reported improving demand from both domestic and export markets, and higher sales volumes on the back of price cuts,” HSBC economist Agata Urbańska-Giner wrote in the statement.

The PMI survey as well as the economic sentiment indicators by the Polish statistical office point to a continuation of this gradual upward trend in the coming months,” she also said.

KW


From Warsaw Business Journal


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