FX.co ★ Poland Manufacturing Contracts Most in a Year

Poland’s S&P Global Manufacturing PMI slipped to 46.1 in June 2026 from 49.4 in May, confounding expectations for an uptick to 49.7 and signaling the sharpest deterioration in factory activity since July 2025. The decline was driven by the steepest fall in new orders in a year, pointing to softer demand, slower economic activity, challenges in winning new customers, elevated client inventories, and tighter customer budgets.

Export orders also contracted at the fastest pace since July 2025, pushing manufacturing output back into decline at the quickest rate in 11 months. Both employment and purchasing activity fell further, while inventories of finished goods increased as unsold stock continued to build.

Inflationary pressures eased, with both input costs and output prices rising at the slowest pace in three months, even as firms continued to face higher bills for raw materials, energy, transport, and packaging. Business confidence weakened to its lowest level since late 2022.