Regional PMIs ease in line with worsening of business conditions in Germany and the euro-zone
Polish PMI just above 50 in June. Will it trigger reactivation of the NBP easing cycle?
Business confidence in regional industries has weakened across the board, today’s releases of June PMIs in manufacturing showed. Still, despite month-on-month decline in PMIs, all indices still point to an improvement in conditions in manufacturing, although at a slower pace than in previous months (indices remain above the key 50.0 level). Clearly, the negative correction of regional PMIs is in line with worsening of business climate in the German and EMU manufacturing, which had been signalled by German Ifo and flash PMI indices respectively.
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