Poland Manufacturing Contraction Deepens In December

(RTTNews) - Poland's manufacturing downturn worsened at the end of the final quarter amid faster declines in output and new orders, survey data from S&P Global showed on Tuesday.

The manufacturing purchasing managers' index, or PMI, dropped to 47.4 in December from 48.7 in May. Any PMI reading below 50 suggests contraction in the sector.

New orders fell for the twenty-second consecutive month in December. Foreign demand was also significantly weak, especially in Germany and France.

The rate of decline in output also quickened in December, while stocks of finished goods rose for the third consecutive month.

The supply chain was generally stable, contributing to another drop in average input prices that resulted in a ninth consecutive fall in output prices, the survey said.

Polish companies reported new products and capacity planned for the next 12 months, indicating a positive outlook for production.