The FINANCIAL — Activity in Poland’s manufacturing sector expanded in August at a much slower rate than in July with output and new orders growing only marginally, Markit Economics said on September 1, according to Nasdaq.
The survey of 300 industrial companies showed the manufacturing purchasing managers’ index fell to 51.1 in August from 54.5 in July.
A PMI figure below 50 indicates contraction, while above that level signals expansion.
“Firms cut purchasing activity, and backlogs of work fell sharply,” Markit said. “There was a lack of inflationary pressure during the month, with input prices barely rising since July and a resumption of the recent downward trend in prices charged for finished manufactured goods.”
The reading follows a string of weaker-than-expected macroeconomic data that have revived talk among economists of possible interest rate cuts in Poland.