Poland Manufacturing Downturn Eases In March

(RTTNews) - Poland's factory activity logged a softer contraction in March amid a renewed growth in output, survey data from S&P Global showed on Wednesday.

The manufacturing purchasing managers' index, or PMI, rose to 48.7 in March from 47.1 in February. However, any PMI reading below 50 suggests contraction in the sector.

Among components, slower declines were seen in new orders and input stocks and longer suppliers' delivery times. On the other hand, output volumes increased for the first time in eleven months, though the rate of growth was weak due to lower incoming work, linked to unfavorable market conditions and uncertainty regarding the war in the Middle East.

As a result, manufacturers reduced their workforce numbers further, and the rate of job shedding was the sharpest since September 2023.

On the price front, input price inflation accelerated to the highest since October 2022 as the impact of the war in the Middle East led to higher costs for energy, fuel, and commodities. Selling price inflation also rose to the strongest since February 2023.

Looking ahead, firms remained positive about output expectations over the next twelve months, supported by increased demand, market recovery, and company developments, including investment in new production capacity and the acquisition of new customers.