Poland Industry July 2016

Poland

Poland: Industrial production contracts in July for the first time in nearly two years

August 19, 2016

In July, industrial production fell 3.4% over the same month last year, which notably contrasted the 6.0% growth recorded in June. The downturn reflected a broad-based decline across all subsectors of the index. In particular, an almost 20% decline was reported in construction-assembly production.

On a monthly basis, industrial production contracted 1.6% over the previous month in seasonally-adjusted terms, contrasting the 0.7% expansion recorded in June. Meanwhile, annual average growth in industrial production fell from June’s 4.5% to 3.9% in July.

FocusEconomics Consensus Forecast panelists expect industrial production to increase 4.4% in 2016, which is down 0.3 percentage points from last month’s forecast. For 2017, the panel also expects growth in industrial production to be 4.4%.


Author: Angela Bouzanis, Senior Economist

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Poland Industry July 2016 2

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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