Zloty Weakens as Polish Manufacturing Gauge Slips Below Forecast

The zloty retreated against the euro, snapping a five-day winning streak, after a report showed Polish manufacturing slipped to stagnation from expansion in February.

The zloty lost 0.4 percent to 4.1344 per euro as of 9:12 a.m. in Warsaw, after rising to the strongest level in almost seven months yesterday. Its decline was the second-steepest among 25 emerging-market currencies tracked by Bloomberg.

The purchasing managers’ index, a gauge of manufacturing, fell to 50 from 52.2 in January as employment and export orders fell, HSBC Holdings said in an e-mailed statement summarizing the results of a survey by Markit Economics. The median estimate of 17 economists in a Bloomberg survey was 51.1. A reading above 50 indicates expansion, while a figure below 50 shows a contraction.

To contact the reporter on this story: Piotr Skolimowski in Warsaw at pskolimowski@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.