The downturn in Polish manufacturing eased for a second consecutive month in October, a survey showed on Thursday, as new orders and staffing levels declined more slowly.

S&P Global's Polish manufacturing Purchasing Managers' Index (PMI) rose to 44.5 in October from 43.9 in September, remaining below the 50.0 line that separates growth from contraction for the 18th month in a row. The reading was in line with the median estimate of analysts polled by Reuters.

"The PMI registered its first back-to-back rise since the start of 2023 in October, offering some hope that the current severe downturn in manufacturing has bottomed out," said Trevor Balchin, Economics Director at S&P Global Market Intelligence.

"But another marked drop in new orders, plus a sharper decline in backlogs and a rise in finished goods inventories, suggests output has further to fall in the coming months."

New orders declined due to poor trading conditions domestically and in Europe, but it was the weakest drop in four months.

The decline in new orders resulted in falling backlogs, while stocks of finished goods rose for the first time in six months.

The pace of job-cutting eased from the 11-month record set in September, but nevertheless remained sharp. (Reporting by Alan Charlish; Editing by Christina Fincher)