Poland’s Purchasing Managers’ Index (PMI) fell to 56.0 points in August 2021 from 57.6 points in July, economic researcher IHS Markit reported on Wednesday.
The prices of consumer goods and services (Consumer Price Index, CPI) increased in August by 5.4 percent year on year and by 0.2 percent month on...see more
“The fall is visible in all European Union countries. The entrepreneurs’ ratings will deteriorate further in the coming months. However, the slowdown in activity should be moderate,” the Polish Economic Institute (PIE) commented on the report.
Despite the monthly slow-down, the pace of growth in production, new orders and purchasing was still very high and producers continued to employ new workers, Markit wrote.
“Markit’s comments indicate that the demand for Polish products is still strong. The increase in new orders is one of the fastest in the last three years. In particular, the growth of new export orders is accelerating. Delays in the supply chain are still a downside. They hinder production and put further pressure on the increase in raw material prices,” the economic institute added.
Supply chain delays were among the major headaches for manufacturing, the researcher stated.
Weak efficiency on the part of suppliers and shortages in commodities on the markets fuelled cost pressure, but the pace of inflation growth was the weakest since February, according to IHS Markit.
A PMI above 50, represents an expansion in manufacturing when compared to the previous month. A PMI reading under 50 indicates a contraction.