WARSAW, July 1 – The slump in Polish manufacturing activity showed signs of easing in June as the economy began to unfreeze after the coronavirus lockdown, a survey showed on Wednesday.
The IHS Markit Purchasing Managers’ Index (PMI) for manufacturing rose to 47.2 in June from 40.6 in May, but remained below the 50.0 line that separates growth from contraction. It was, however, above the 46.5 forecast by analysts in a Reuters poll.
Indicators for output and new orders returned to the levels they were at before the coronavirus reached Poland in March, but continued to signal contraction.
“The Polish PMI made further strides toward the 50.0 stabilisation mark in June, but manufacturing conditions remain challenging even as the sector moves past the worst phase of the lockdown,” said Trevor Balchin, Economics Director at IHS Markit.
“All the key indicators showed notably slower falls in June, and output expectations turned decisively positive, albeit at a weaker level than the pre-crisis trend.”
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For further information, please phone IHS Markit on +800 6275 4800 or email [email protected] (Reporting by Alan Charlish; Editing by Catherine Evans)