Polish manufacturing PMI disappoints
PR dla Zagranicy
The manufacturing sector expanded slightly in September, but less than expected, indicating a weak growth rate in Poland’s economy.
Photo: Radio Poland
The PMI (Purchasing Managers’ Index) stood at 50.9 in September, against 51.1 in August. Market analysts had expected a level of 52.4.
The growth in September indicated the lowest figure in around a year, Markit Economics said on Thursday.
“The Polish manufacturing economy remained stuck in a low gear in September,” Markit wrote.
“Growth rates for output and new orders failed to pick up from August, remaining marginal in both cases,” said Trevor Balchin, senior economist at Markit.
A neutral PMI rating of 50 means that businesspeople in the country feel that the economy will not change over the next month. A higher rating means that it will improve, while a PMI rating below 50 indicates that many think it will deteriorate. (rg/rk)
Source: PAP, Dow Jones Newswires