Poland's Manufacturing Downturn Deepens In June

(RTTNews) - Poland's manufacturing contraction worsened in June amid a marked fall in output, new orders, and purchasing activity, survey data from S&P Global showed on Friday.

The manufacturing purchasing managers' index, or PMI, dropped to 45.1 in June from 47.0 in May. A PMI reading below 50 suggests contraction in the sector.

Among the five components of the headline index, new orders, output, employment, and stocks of purchases contributed most negatively.

Germany was cited as a major source of weakness in export new business in June. Continuing weakness in demand led to the fastest drop in output since July.

Purchasing processes were reduced in response to lower demand and output needs. Firms also trimmed their workforce numbers for the thirteenth successive month.

On the price front, input costs logged a sharp fall in June, and in turn, output prices fell at a series-record pace.