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PMI Index – Polish Industrial Sector in January 2021 – commentary by Deputy Minister Robert Tomanek

01.02.2021

For the seventh consecutive time, the industrial sector in Poland shows growing economic activity. Contrary to previous forecasts, in January the PMI index rose to 51.9 points – 0.2 more compared to December. This corresponds to the biggest improvement of conditions in the Polish industry since July last year. At the same time, the January index scores the highest since July 2018.

Poland's GDP in 2020 graphic

What is more, Polish entrepreneurs in the manufacturing sector remain optimistic, as companies expect production to increase once the COVID-19 pandemic is contained. In fact, the business optimism score is the second highest since March 2019. 
January IHS Markit survey shows a marked improvement in the Polish industry. Four of the five sub-indices (new orders, employment, delivery time, and inventory of purchased items) had a positive impact on the overall index. The level of new orders rose for the fourth time in the last seven months –  mainly thanks to exports, which grew at the fastest rate in three years. The index for foreign orders has been higher than the total index orders continuously since last August. 
 

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