Weakening in industry

Weakening in industry

Production and new orders are falling strongly in the industrial sector. Companies fear a recession.

The PMI index for industry, which depicts the business climate in the sector, came in at only 42.1 points from July. A month ago it was 2.3 points higher. It is now at its lowest level since May 2020. It reflects a sharp decline in production and new orders. This is a result of high inflation and weaker demand due to the uncertain economic situation. Companies are also reducing the number of employees for the second month in a row. Price pressures continue to rise, as do production costs and finished goods prices.

Entrepreneurs are worried about a recession. At the same time, however, they see upward pressure on prices decreasing. According to economists, inflation should stabilize by the end of the year.

Source: https://www.money.pl/gospodarka/polski-przemysl-dostal-potezny-cios-jest-gorzej-niz-myslano-6796654711995360a.html?utm_source=Facebook&utm_medium=social&utm_campaign=fbmoney&utm_term=post&utm_content=money&fbclid=IwAR0BF6-RtQ-SYoc3WfMrJ40iDLDbgCjiMxIxtQd7m6a9mR_qr9LrH4mbKbo

 

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