Poland’s manufacturing sector purchasing managers’ index PMI increased to 52.1 pts in May after having fallen to 51.0 points in April, thanks to significantly faster growth in output, new orders and employment, a report by Markit Economics showed.
All five PMI sub-indexes contributed to the growth. The pace of new orders accelerated compared to April and grew for the 20th consecutive month, which contributed to faster growth of output, authors wrote. Thanks to higher sales, the level of inventories declined for the seventh month running.
Employment rose for the record 34th consecutive month and pace of employment growth was highest in ten months, authors said. Demand for means of production grew in May. On the flip side, output costs rose for the first time in nine months, a consequence of higher prices of steel and a weak Polish zloty, authors added.
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