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.