Poland’s manufacturing activity rose at a faster rate in January, defying expectations for a slowing, survey data from IHS Markit showed on Monday.
The manufacturing Purchasing Managers’ Index, or PMI, rose to 51.9 in January from 51.7 in December.
Economists had forecast a reading of 51.3. Any reading above 50.0 indicates expansion in the sector.
New orders rose for the fourth time in seven months in January and new export orders increased faster than the new orders. Production declined for the third straight month.
Backlogs of work rose for the fourth month in a row in January. Pre-production inventories grew and reflected forward purchases by manufacturers concerned about cost pressures.
Suppliers’ delivery time lengthened in January.
Input prices increased and output prices rose at the strongest rate since July 2018.
Firms remained confident about the 12-month outlook for production as the vaccine roll-out in Europe is established. Sentiment eased in January, but was the second strongest since March 2019.
The material has been provided by InstaForex Company – www.instaforex.com