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Poland’s manufacturing PMI down m/m in March

Poland’s Purchasing Managers’ Index (PMI) fell to 52.7 points in March 2022 from 54.7 points in February, economic researcher IHS Markit reported on Friday.

Economists polled by PAP predicted the PMI would reach 53.1 points in March.

Markit said the reasons for the decline included the war in Ukraine and global inflation pressures.

Both manufacturing and new orders slumped and the pace of employment and purchasing eased, the researcher said.

The sector suffered from commodity shortages coupled with inflation of production costs and prices of ready goods.

Foreign orders saw the biggest drop since mid-2020, Markit observed.

The headline IHS Markit Poland Manufacturing PMI is a composite single-figure indicator of manufacturing performance derived from indicators for new orders, output, employment, suppliers’ delivery times and stocks of purchases.

A PMI above 50 represents an expansion in manufacturing when compared to the previous month. A PMI reading under 50 indicates a contraction.

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