(RTTNews) – Polish production activity contracted for a sixth straight month in October as output and new orders fell amid a challenging economic environment and peak inflation, an S survey showed on Wednesday.
The production purchasing managers’ index, or PMI, fell to 42. 0 in October from 43. 0 in September. A PMI below 50 suggests a contraction in the sector.
Production and new orders fell for the sixth consecutive month in October, already at a considerable pace. General economic uncertainty, peak inflation and the war in Ukraine contributed to the drop in sales.
On the value front, intermediate consumption values remained at an all-time high in October, driven by higher power values. Production costs rose at the highest rate in three months.
Overall, long-term production confidence has fallen to its lowest point in two-and-a-half years.
Against a backdrop of growing pessimism about the outlook, reduced staff and purchases in October.