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Tuesday, September 1, 2020

Industry feels the weight of the pandemic. PMI for August lower

Bloomberg, US Global Investors

 Purchasing Managers' Index for the industry in Poland in August was at the level of 50.6 points, in contrast to 52.8 points in July. Analysts forecasted that the index would be at 52.9 points.

Markit reported that the new orders and production sub-indexes had the most negative impact on the  PMI in August. 

The authors of the study point out that in August the demand for Polish products stagnated.

“Despite the slight increase in exports, Polish producers received the same number of new orders as in July. Many survey respondents reported that the loosening of social restrictions and the improvement in the situation on foreign markets contributed to an increase in orders. Meanwhile, other companies have noticed a weakening in domestic demand as a result of the growing number of new coronavirus infections in Europe," - the report says.