In May, Poland’s Manufacturing PMI fell to 45.0 points, down from 45.9 points in April, according to S&P Global. The Polish Economic Institute highlighted that the decline was significantly worse than predicted.
“According to the latest PMI® data from S&P Global, the Polish manufacturing sector remains in a prolonged downturn. The sector has contracted for the twenty-fifth consecutive month, marking the longest sequence since the survey began in 1998. May saw accelerated declines in new orders, exports, production, and employment, with purchasing activity decreasing for a record twenty-four months,” the report stated.
Despite the bleak data, the study’s authors noted some positive signs, including reduced inflationary pressure and a slight improvement in the 12-month outlook.
The PMI level indicates the fastest deterioration in business conditions in seven months. It also fell below the trend level of 45.5 points, a sequence ongoing since May 2022 with readings consistently below the 50.0-point mark.
The latest drop in the main index was driven by four out of five components, with the only exception being a slower decline in inventories of purchased goods.
The Polish Economic Institute confirmed that the May decline was significantly below expectations.