Poland: Industrial output records slowest expansion since October 2021 in June
July 25, 2022
Industrial production expanded 10.4% year on year in June (May: +14.9% yoy). June's outturn marked the worst reading since October 2021. June's notable deterioration was largely driven by decelerating growth in manufacturing and electricity, gas and utilities production. However, mining and quarrying production rose more robustly.
On a seasonally-adjusted monthly basis, factory output fell at a more moderate rate of 1.2% in June (May: -1.7% mom). Meanwhile, the trend pointed down, with the annual average growth of industrial production coming in at an over one-year low of 1.4%, down from May's 3.3% reading.