Poland Industry December 2020

Poland

Poland: Industrial output expands at fastest pace since October 2017 in December

January 25, 2021

Industrial output expanded 11.2% in year-on-year terms in December, which was above November's 5.4% increase. December's reading marked the best result since October 2017. Looking at the details of the release, manufacturing production growth picked up pace in December, while mining and quarrying output rebounded. Meanwhile, electricity, gas and utilities activity contracted at a softer rate.

On a monthly basis, industrial output dropped 4.4% in seasonally-adjusted terms in December, which was notably greater than November’s 1.6% fall and marking the worst result since August. Meanwhile, the trend improved, with the annual average variation of industrial production coming in at minus 1.0%, up from November's minus 1.6% reading.

FocusEconomics panelists expect industrial output to expand 8.0% in 2021, which is up 1 percentage points from last month’s forecast. For 2022, the panel expects growth in industrial output of 5.4%.


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Poland Industry December 20 20

Note: Year-on-year changes and annual average variation of industrial production index in %.
Source: Central Statistical Office (GUS) and FocusEconomics calculations.


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