Poland: Industrial production decelerates in June
July 17, 2014
In June, industrial production expanded 1.7% over the same month last year. The increase was below the 4.4% reading tallied in May and also undershot market expectations of a 3.7% expansion. Moreover, the reading marked the lowest growth rate since May of last year. The deceleration reflected a weaker expansion in manufacturing compared to last month. Meanwhile, the electricity, gas, and steam sector rebounded to positive growth in June after contracting in May, and the decline in mining and quarrying eased.
On a month-on-month basis, industrial production increased a seasonally-adjusted 2.1%, which contrasted the 1.5% decrease observed in May. The overall trend moderated slightly, with annual average growth in industrial production falling from 4.7% in May to 4.6% in June.
Author: Carl Kelly, Economist