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.