Poland’s S&P Global Manufacturing PMI edged up to 48.8 in April 2026 from 48.7 in March, surpassing market expectations of 48.6 but remaining below the 50 threshold, signaling a twelfth straight month of deteriorating business conditions. It was weighed down by a faster decline in new orders, which fell for the thirteenth consecutive month amid weak demand and heightened uncertainty over supply chains and shortages linked to the Middle East conflict. Output declined, marking its eleventh contraction in the past year, though the pace was mild. Meanwhile, cost pressures surged, with input prices rising at the fastest rate since May 2022 due to higher raw material and transport costs. Firms passed these increases on, lifting output prices at the quickest pace since June 2022. Firms built up inventories and faced longer delivery times, while employment fell for the twelfth straight month. Manufacturers remained cautiously optimistic, though confidence slipped to a five-month low.

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