WARSAW, Aug 3 (Reuters) – Polish factory activity grew
steadily in July as the easing of coronavirus restrictions
lifted output, new orders, exports and purchasing, pushing the
IHS Markit Purchasing Managers’ Index (PMI) above 50 for the
first time since October 2018.
The PMI for manufacturing rose to 52.8 in July from 47.2 in
June, above the 50.0 line that separates growth from
contraction. Analysts polled by Reuters had forecast a reading
The figure pointed to the strongest month-on-month
improvement in the underlying health of the manufacturing sector
for two years, but nonetheless manufacturers continued to cut
jobs as they adjusted capacity.
“A third successive strong rise in the headline PMI in
July… brought to an end a 20-month run of negative readings,
the longest downturn in business conditions in nearly 18 years,”
said Trevor Balchin, Economics Director at IHS Markit.
“The PMI was mainly driven higher by the output and new
orders sub-components, as demand began to recover as lockdown
restrictions continued to ease.”
(Reporting by Alan Charlish; Editing by Hugh Lawson)