Poland's manufacturing index PMI up to 50.7 pts in March - S&P Global
Poland's manufacturing sector purchasing managers' index (PMI) rose to 50.7 points in March from 50.6 points in February, S&P Global report showed. According to the researcher, this result reflects Poland's strongest manufacturing performance in nearly three years as output and new order growth have accelerated.
"Business conditions in the Polish manufacturing sector continued to improve in March, the latest PMI data from
S&P Global showed. There were back-to-back gains in output and new orders, while exports increased for the first time in over three years and the outlook brightened further. Cost pressures rose but were historically weak," S&P wrote in a commentary to the study.
The study authors pointed out that the rate of growth signalled, albeit modest, was slightly stronger than the long-run survey average.
The report shows that the demand for Polish industrial products continued to grow in March.
"Demand for Polish manufactured goods continued to recover in March. New orders rose for the second month running, and at the fastest rate since February 2022. Overall growth was supported by higher exports, with recovering EU markets mentioned by Polish firms," S&P continued.
As the researcher pointed out, the sustained increase in new orders was matched by faster growth in output, and the first back-to-back expansion in over three years.
"Though moderate overall, production growth was sufficient to generate a net increase in finished goods inventories," S&P assessed.
The report indicated that the 12-month outlook strengthened further in March, with confidence rising for the fourth successive month.
"Sentiment was the highest since June 2021, and stronger than the long-run trend," S&P emphasised.
Manufacturers attributed optimistic forecasts to recovering demand, new product releases, increased activity in the construction sector, new customers, unblocked EU funds under the national recovery plan KPO and higher exports.
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