The PMI index for the Polish manufacturing industry increased in November to 48.2 points, up from 47.3 points. The results surpassed market expectations. It’s the highest the PMI index has been in the last three months, thanks to slight improvement on the labor and production markets.
Market watchers, however, remain cautious. “This unexpected improvement of PMI, along with Ifo’s jump in Germany, is a good sign for Polish exports,” said Agata Urbańska of SBC. “We still expect the economy will grow slightly in first quarter of the year, however, the PMI increases our concerns over a GDP slowdown in the second quarter of next year.”
