Poland: Industrial output falls in May
June 19, 2013
In May, industrial production contracted 1.8% over the same month last year, which contrasted the 2.7% increase tallied in April, but slightly exceeded market expectations of a 1.9% decline. The deterioration mainly reflected a decline in manufacturing as well as in electricity, gas and steam.
On a month-on-month basis, industrial production decreased a seasonally adjusted 1.0%, which contrasted the 0.8% increase observed in April. Moreover, the trend deteriorated, with annual average growth in industrial production edging down from minus 0.1% in April to minus 0.6% in May, the lowest level in more than three years.
FocusEconomics Consensus Forecast panellists expect industrial production to increase 2.2% in 2013, which is up 0.3 percentage points from last month's forecast. For 2014, the panel expects industrial production growth to accelerate to 4.2%.