Poland’s manufacturing growth accelerated unexpectedly in February to the highest level in seven months, driven by stronger rises in output and new orders, survey figures from Markit Economics showed Tuesday.
The Purchasing Managers’ Index, or PMI, rose to 52.8 in February from 50.9 in the previous month. Any reading above 50 indicates expansion in the sector. Meanwhile, economists had expected the index to fall to 50.7.
New orders climbed for the seventeenth month running in February, and at the sharpest rate since last July. Growth of new export orders also hit a seven-month high in the latest period.
Similarly, output grew at the fastest pace since July 2015. Backlogs of work continued to fall, but the rate of contraction slowed to a marginal pace.
Manufacturers raised their payroll numbers for the thirty-first successive month in February.
On the price front, input prices fell for the sixth consecutive month in February, due to lower prices for metals and oil-related inputs. As a result, selling prices dropped seventh month in a row.
The material has been provided by InstaForex Company – www.instaforex.com