Poland Industry March 2021

Poland

Poland: Industrial output growth hits near 15-year high in March

April 21, 2021

Industrial output rose 18.9% year-on-year in March (February: +2.5% yoy), marking the strongest expansion since May 2006. The reading reflected a broad-based upturn, with activity in the manufacturing, and electricity, gas and utilities sub-sectors expanding at a faster clip compared to the previous month. Moreover, the decline in the mining and quarrying sub-sector softened in March.

On a seasonally-adjusted monthly basis, factory output rose at a quicker rate of 2.3% in March (February: +0.5% mom). Meanwhile, the trend improved sizably, with the annual average variation of industrial production coming in at plus 0.6% in March, contrasting February's minus 1.2%.

FocusEconomics panelists expect industrial output to expand 10.2% in 2021, which is up 1.0 percentage point from last month’s forecast. For 2022, the panel expects growth in industrial output of 6.3%.


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Poland Industry March 2021

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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