According to expert of the Employers of Poland Łukasz Kozłowski, the October increase of the PMI index for Polish industry by 0.3 pts – to 53.4 pts – though less dynamic than before, testifies to the fact that Polish economy has shown a degree of immunity to the negative influence of external factors.
- We should keep in mind that in recent weeks macroeconomic figures from Western Europe has pointed to a weakening of the economic upturn observed thus far. It was commonly expected to have an impact on Poland’s situation, but that has not been the case – comments Employers’ of Poland expert Łukasz Kozłowski. – This contrasts sharply with the situation in the first few months of this year, when data from Poland suggested further worsening of already bad economic conditions, while the West started experiencing an upturn – he adds.
Kozłowski states that despite the increase of the main PMI index, the picture of Polish economy’s current state emerging from it is not unambiguous. – On the one hand, our exporters achieve fantastic results – new orders in this sector have increased most dynamically in the entire history of the research, that is in 15 years. However, this does not cause growth in employment, which has been decreasing for a couple of months now. The economic upturn does not have a strong impact on the labour market. Moreover, entrepreneurs are still forced to lower the prices of their products, while the production costs increase with the fastest dynamic in the last 16 months – says Kozłowski.
According to the expert of the Employers of Poland, this shows that export remains a very important factor in Poland’s economic growth, but the strengthening of domestic demand in the near future should not be treated as a given.
The article is also available in Polish at http://www.pracodawcyrp.pl/stanowiska/art,5663,dane-o-polskim-pmi-nie-sa-jednoznaczne.html