S&P Global Manufacturing PMI in Poland

A diffusion index for Polish manufacturing produced by S&P Global Market Intelligence from a monthly survey of purchasing managers. A reading above 50 signals expansion on the previous month and below 50 contraction.

A weighted composite of five sub-indices: new orders (30%), output (25%), employment (20%), suppliers' delivery times (15%) and stocks of purchases (10%). Seasonally adjusted data.

A leading indicator of the Polish business cycle: released ahead of the national accounts and official industrial production, markets use it as the first read of the month. A surprise print can move the zloty and expectations for the National Bank of Poland (NBP).

A qualitative survey that measures the direction of change rather than its magnitude. The sample is of private firms and the seasonal adjustment factors are revised periodically.