Economics
Polish PMI Contracts First Time in 13 Months, Backs Easing
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Polish manufacturing activity showed its first contraction in 13 months, strengthening the case for rate cuts amid predictions the economy will slow further as sanctions damage trade with Russia.
The July purchasing managers’ index, a gauge of manufacturing, fell to 49.4 from 50.3 in June, London-based Markit Economics said today on its website in a survey for HSBC Holdings Plc. The reading was below the 50.5 median estimate of 14 economists surveyed by Bloomberg and signaled the first weakening since June 2013. Any result above 50 indicates expansion, while a figure below shows contraction.