Poland: Industrial production decelerates in May
June 18, 2014
In May, industrial production expanded 4.4% over the same month last year. The increase was below the 5.4% reading tallied in April and undershot market expectations of a 5.9% expansion. The result reflected a weaker expansion in manufacturing, as well as a sharp drop in the mining and quarrying sector. Conversely, growth in the water supply sector accelerated in May.
On a month-on-month basis, industrial production decreased a seasonally-adjusted 1.5%, which contrasted the 0.9% increase observed in April. The overall trend improved, with annual average growth in industrial production rising from 4.2% in April to 4.7% in May, which represented the highest level since July 2012.
Author: Carl Kelly, Economist