Poland's PMI falls in March more than expected after 5 months of growth

By bne IntelliNews April 3, 2013

The headline HSBC Poland Manufacturing PMI remained below the neutral 50.0pts mark for the 12th successive month in March. Furthermore, it fell to 48.0pts from 48.9pts a month ago (after 5 months of growth), according to Markit, the firm that compiles the index. Market consensus was 49.0pts. The latest figure was the lowest since October, although the average for the first quarter was the highest since Q2 of 2012 (at 48.5pts, up from 48.0pts in Q4 of 2012). New orders declined for the fourteenth successive month. The overall rate of contraction was little-changed from February's moderate pace, despite a sharper fall in new export business, Markit reported. The decline in new work from export markets was the fastest since November, it added. Input prices fell for the seventh time in nine months , while manufacturing employment declined for the seventh month running in March, the longest sequence of job shedding in over three years. The PMI data, coupled with expectations of further fast deceleration of inflation, may increase hopes that the Monetary Policy Council (MPC) will renew its policy loosening cycle.

Related Articles

Second rating blow for Warsaw-listed debt recovery firm GetBack

Credit rating agency S&P on April 24 suspended the B/B rating of major Polish debt recovery firm GetBack, ... more

EU top court rules Poland broke law by logging in ancient forest

Poland broke EU law by increasing logging in the ancient Bialowieza Forest under a pretext of fighting spruce beetle, the Court of Justice of the European Union (CJEU) ruled on April 17. The ... more

S&P raises Poland’s outlook to positive on rosy prospects of economy in 2018

Standard and Poor’s raised its outlook for Poland from stable to positive on April 13, while maintaining the country’s rating at BBB+.  The raising of the outlook is based on ... more