WARSAW: Poland’s manufacturing sector purchasing managers’ index PMI, a gauge of manufacturing sector activity, fell by 3.4 pts month on month – the strongest single month decline since January 2005 – to 51.1 points in August after a 0.2 pts gain in the previous month, a report by Markit Economics showed.
The decline showed weakness in key sub-indices for forecast output, new orders and export orders. “Growth rates for output, new orders and exports all slowed sharply during the latest period, to weak levels in all three cases,” the report said.
Total new orders and export orders grew, but only fractionally. Production increased, but at the slowest pace in 11 months. Yet, employment continued to increase at a slower, but strong rate. An August nosedive in the PMI business sentiment reading for Poland.