Polish PMI down to 48.8 pts in May

Poland’s Purchasing Managers’ Index (PMI) fell to 48.8 points in May, from 49 points in April, according to Markit, a provider of financial information services.

The reading meant that the country’s PMI remained stuck below the neutral 50-point mark for a seventh straight month, public broadcaster Polish Radio’s IAR news agency reported on Monday.

Poland’s PMI was 48.7 points in March, up from 47.6 points in February.

In January, the index was at 48.2 points, up from 47.6 points in December.

In November, Poland’s PMI was at 49.5 points, down from 50.4 points in October.

A neutral PMI rating of 50 means that businesspeople in the country feel that the economy will not change over the coming month.

A higher rating means that the economy is expected to improve, while a PMI reading below 50 indicates that many think it will deteriorate.

The Polish economy grew 4.7 percent in the first quarter of this year, the country’s Central Statistical Office (GUS) said on Friday in a final estimate.

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