Poland’s manufacturing activity continued to expand strongly in November, as both output and new orders grew at the fastest pace in four months, survey figures from Markit Economics showed Tuesday.
The Purchasing Managers’ Index, or PMI, dropped marginally to 52.1 in November from 52.2 in October. However, any reading above 50 indicates expansion in the sector.
Moreover, the current upturn in the sector stretched to 14 months, which was the longest in over four years.
In November, both new order inflows and production grew at the fastest rate in four months. Output growth was also led by a further reduction in outstanding work during the month.
Manufacturers raised their payroll numbers in November. The current sequence of job creation in the sector extended to 28 months, the longest in the survey history.
On the price front, input prices dropped for the third straight month in November, due to cheaper metal prices. This forced firms to cut their selling prices for the fourth consecutive month.
The material has been provided by InstaForex Company – www.instaforex.com