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Poland Manufacturing Sector Contracts Most Since April 2009

Poland's manufacturing sector shrank the most since April 2009, amid falling output, new orders, and exports, survey data from IHS Markit showed on Monday.

The manufacturing Purchasing Managers' Index, or PMI fell to 42.4 in March from 48.2 in February. Any reading below 50 indicates contraction in the sector.

Stocks of purchases decreased in March, while suppliers' delivery times lengthened. Production, new orders and new export orders declined at the fastest rates since December 2008. This was mainly due to the disruption caused by the coronavirus outbreak.

Backlogs of works were completed at a stronger rate in March, with the lack of incoming new orders. The outstanding business declined at the fastest rate since November 2012.

Employment decreased for the ninth month in a row in March, and the rate of job shedding increased at the fastest pace since July 2009.

Pre-production stocks decreased for the ninth month in a row, and at the fastest rate since the beginning of the year.

The 12-month outlook for production in March was the lowest level since the series began in April 2012.

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