The reading inched up above the consensus, which assumed a drop of 0.1 points to 44.9. The indicator has now lingered below the 50-point mark separating contraction from growth for 26 months straight, the longest series since the survey began in 1998.
“Sharp declines were indicated for production, new orders, exports and employment, while purchasing activity fell for a record twenty-fifth month running,”
“Weak demand was accompanied by a lack of inflationary pressure, as both input and output prices fell slightly since May,” the index’s compiler also said.
The June reading extends the waiting time for a sustained recovery in Poland’s manufacturing sector, which appears to lag the trend in the
“The main source of weak foreign demand was
“We expect activity in manufacturing to improve due to the continued recovery in domestic consumer demand and an increase in export orders, although we may have to wait a bit longer for the latter condition to become reality,” PKO BP also said.
June data from
Poland’s industrial sector – covering manufacturing, energy production, mining and quarrying, as well as water and waste management – contracted in May, latest available data show.
Output fell 1.7% year on year in the fifth month after a gain of 7.8% y/y in April, GUS said on
Meanwhile, the producer price index (PPI) declined 7% y/y in May, following a revised fall of 8.5% y/y in April, GUS also said.
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