Poland: Industrial production contracts most in 40 months
October 17, 2012
In September, industrial production fell 5.2% over the same month last year, which contrasted the 0.5% increase tallied in August and exceeded market expectations, which had industrial production declining 3.9%. The deterioration was broad-based, with three out of the four main sub-categories recording worse readings compared to the previous month. On a month-on-month basis, industrial production fell a seasonally adjusted 1.4%, which followed the 0.4% decrease seen in August. As a result, the trend deteriorated, with annual average growth in industrial production falling from 4.9% in August to 3.9% in September.