Poland: Industrial production continues to decelerate in November
December 17, 2014
In November, industrial production rose 0.3% over the same month last year, which was notably below the 1.6% expansion recorded in the previous month. November’s reading undershot the 1.1% increase that the markets had expected and marked the lowest rate in three months. The reading reflected a slight improvement in manufacturing, as well as in water supply and waste management. Conversely, mining and quarrying, and electricity and gas deteriorated over the same month last year.
On a month-on-month basis, industrial production dropped a seasonally-adjusted 7.5% in November, which contrasted the 0.3% increase recorded in October and marked the lowest reading on record. As a result, the overall trend continued to moderate, with annual average growth in industrial production declining from 3.6% in October to 3.3% in November—the lowest level in nine months.
Author: Cecilia Simkievich, Economist