Poland Industry

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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.

FocusEconomics Consensus Forecast panelists expect industrial production to increase 3.4% in 2014, which is unchanged from last month’s forecast. For 2015, the panel expects growth in industrial production to accelerate to 4.6%, which is also unchanged from last month’s projection.


Author:, Economist

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Poland Industry November 2014

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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