In November, the PMI for Polish industry was 52.1 points, compared to 52.2 in October. – Polish industry is not growing as dynamically as in the first half of this year, but the slight slowdown we are experiencing now is still only temporary and does not constitute a reversal of the tendencies that were prevalent thus far. The very fact that an upturn has lasted for so long is good news – comments Łukasz Kozłowski.
At the same time, it should be kept in mind that the most recent figures are somewhat disappointing, particularly as far as financial markets are concerned – average analysts’ prognoses were 0.7 point higher than the actual value of the index. However, achieving a higher growth dynamics is made more difficult by the still quite subdued internal consumption demand.
Companies producing for export are faced with unstable growth in developed countries and the deepening problems of emerging economies. The weakness of Polish złoty does not favour export as much as it used to, because the exchange rate of the dollar – which is usually used to settle import rather than export – increased the most. The value of euro in relation to our currency is almost the same as a year ago. Polish industry continues to experience systematic employment growth which bodes well for the future of the labour market.
Łukasz Kozłowski, economic expert of Employers of Poland