Poland: Industrial output grows at record pace in April due to low base effect
Industrial output rose 44.5% compared to the same month of the previous year in April, which followed March’s 18.9% increase. The result marked the strongest expansion on record; however, it was chiefly driven by a low base effect. The reading reflected a broad-based upturn, with activity in the mining and quarrying, manufacturing and electricity, gas and utilities sub-sectors all improving in April. Meanwhile, annual average industrial production growth rose to 6.3% in April (March: +0.6%), signaling an improving trend in the industrial sector.
On a seasonally-adjusted monthly basis, industrial output rose declined 0.4% in April (March: +2.3% mom), the worst result since April 2020.