FX.co ★ Poland Manufacturing Growth Eases in April

The S&P Global Poland Manufacturing PMI showed a slight decline to 50.2 in April 2025, down from 50.7 in March, indicating ongoing improvements in business conditions, albeit at a decelerated rate. Output increased for the third consecutive month, marking the fastest growth since February 2022, and employment also rose to accommodate the rising workload. Notably, backlogs increased for the first time in almost three years, signaling further recovery. However, new orders experienced a slight downturn, raising concerns about demand sustainability. While purchasing activity climbed, input inventories decreased as production ramped up. For the first time since June 2024, supplier delivery times improved. In terms of pricing, both selling and input costs continued to rise, albeit at subdued rates. Despite the uptick in output, business confidence saw a significant decline, the sharpest since the pandemic, underscoring the vulnerability of the sector's future prospects.