Poland Industry December 2022

Poland

Poland: Industrial output growth falls to over one-year low in December

January 24, 2023

Industrial output increased 1.0% in year-on-year terms in December, which was a deterioration from November's 4.5% increase. The figure marked the worst reading since January 2021. December's slowdown was partly driven by a deterioration in mining and quarrying output, as it expanded at the slowest pace since September 2020. In addition, manufacturing output weakened.

On a seasonally adjusted monthly basis, industrial production rose at a more moderate pace of 0.7% in December (November: +2.7% mom). Meanwhile, the trend pointed down, with the annual average variation of industrial production coming in at minus 4.0%, down from November's minus 2.5% reading.

FocusEconomics panelists expect industrial output to expand 1.2% in 2023, which is down 0.2 percentage points from last month’s forecast. For 2024, the panel expects growth in industrial output of 4.7%.


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Poland Industry December 2022

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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