Poland: Industrial production accelerates in December
January 20, 2011
In December, industrial production expanded 11.5% over the same month last year. The reading represented an acceleration compared to the 10.0% expansion tallied in November but came in slightly below market analyst expectations of a 11.9% increase. The acceleration reflected a more robust performance in three out of the four sub-sectors, which continued to benefit from strong demand, at home and abroad. The manufacturing sector expanded 14.3% over the same period last year (November: +11.8% year-on-year) and the water supply sector grew 8.2% (November: +7.3% yoy). Furthermore, electricity, gas and steam improved, contracting 3.1% following a decline of 3.3% in November. However, mining and quarrying deteriorated, falling 9.2% (November: -2.1% yoy). The trend remained positive in the last month of 2010, with the annual average growth rate in industrial production stepping up to 11.1% in December from 10.8% in November. The result was an improvement over 2009, when industrial production contracted 3.6%.