Poland Industry

Poland

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.

FocusEconomics Consensus Forecast panelists expect industrial production to increase 5.0% in 2014, which is up 0.2 percentage points from last month’s forecast. For 2015, the panel expects growth in industrial production to accelerate to 6.3%.


Author:, Economist

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Poland Industry May 2014

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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