Poland: Manufacturing PMI signals strong growth
It is remaining well above the 50-point threshold that distinguishes expansion from contraction in the manufacturing sector—where it has been for just over three years, the longest expansionary sequence since the survey started in June 1998.
October’ strong print was underpinned by expansions in new orders and output, with the former matching September’s 31-month record growth rate and the latter easing only marginally from the previous month’s print.
This translated into firms hiring more staff, resuming an over-four-year sequence of job creation which came to a halt in September.
The increase in employment, however, couldn’t prevent a further increase in backlog orders.
On the price front, input cost inflation accelerated further leading output prices to rise at the second-fastest pace in six-and-a-half years.
Business sentiment was once again buoyant in October, with firms firmly positive in their expectations of high future output levels.
FocusEconomics Consensus Forecast panelists expect fixed investment expanding 6.0% in 2018, which is unchanged from last month’s estimate.
For 2019, the panel sees fixed investment expanding 5.2%. ■