Poland’s manufacturing sector contracted at the second sharpest pace since January 2009, due to ongoing lockdown restrictions designed to contain the spread of [coronavirus][1], or Covid-19, pandemic, survey data from IHS Markit showed on Monday.
The manufacturing Purchasing Managers’ Index, or PMI, rose to 40.6 in May from a record low of 31.9 in April.
Any reading below 50 indicates contraction in the sector. This was the second sharpest deterioration in [business][2] conditions since January 2009.
Suppliers’ delivery time lengthened in May and new orders fell at the second-fastest rate in the survey history, as demand was impacted by lockdown measures both domestically and worldwide.
New export orders declined at the second-fastest rate in the survey history and output fell due to the ongoing factory closure and downturn in demand.
Employment fell at the third-fastest rate in the survey history and input inventories declined at the second-strongest pace in nearly seven years.
Backlogs of work continued to fall rapidly due to weak demand. Purchase of new inputs decreased at the third-strongest rate on record.
On the price front, input prices increased sharply in May and prices charged for manufactured goods continued to fall.
Finally, the 12-month outlook for production stabilized in May following a record degree of pessimism in April.
For comments and feedback contact: editorial@rttnews.com
[Economic News][3]
What parts of the world are seeing the best (and worst) economic performances lately? Click[here][4] to check out our [Econ Scorecard][4] and find out! See up-to-the-moment rankings for the best and worst performers in [GDP][5], [unemployment rate][6], [inflation][7] and much more.
- www.rttnews.com/list/coronavirus.aspx
- www.rttnews.com/Content/Business.aspx
- www.rttnews.com/Content/EconomicNews.aspx
- www.rttnews.com/economic-scorecard/world-rank/PPI/highest-performance.aspx
- www.rttnews.com/economic-scorecard/world-rank/GDP/highest-performance.aspx
- www.rttnews.com/economic-scorecard/world-rank/unemployment-rate/lowest-performance.aspx
- www.rttnews.com/economic-scorecard/world-rank/CPI/highest-performance.aspx