Poland’s manufacturing sector purchasing managers’ index PMI climbed to 49.0 pts in April from 48.7 pts in March on waning dip in output and new orders, a report by IHS Markit showed. “The upward movement in the PMI mainly reflected a slower decline in output,” which was the smallest since November, Markit said. The 12-month outlook for production was still among the weakest since 2013, the researcher noted.
New orders also declined at the slowest rate in five months, but at the same time new export orders recorded one of the biggest dips in the last decade. “With output and new orders falling further, manufacturers cut staff in April at the fastest rate since March 2013,” Markit analysts went on to say.
Inventories of finished goods rose for the fourth month running while backlogs shrank for the ninth successive month and the rate of that decline was among the sharpest seen in the past six years, according to the researcher.