Poland Manufacturing Downturn Eases In October

(RTTNews) - Poland's manufacturing activity deteriorated at a slower pace in October, survey data from S&P Global showed on Monday.

The manufacturing purchasing managers' index, or PMI, rose to 48.8 in October from 48.0 in September. However, any PMI reading below 50 suggests contraction in the sector.

Among components, both output and new orders fell at slower declines in October. The survey revealed that there was a turnaround in customer inquiries and hopes of a near-term improvement in sales pipelines.

Export orders also declined at the lowest rate in six months due to subdued demand from Western Europe.

In line with the lack of pressure on operating capacity and lower new business, firms lowered their workforce numbers at a faster pace than in the prior month. Meanwhile, purchasing activity showed a renewed upturn, supported by the strongest degree of business optimism since March.