Poland: Industrial production decelerates markedly in January
February 18, 2015
In January, industrial production expanded 1.7% over the same month of last year, which was well below the notable 8.4% increase tallied in December. January’s reading undershot the 2.4% rise that the markets had expected. The reading reflected deteriorations in all of the sub-components that comprise the index. Mining and quarrying, as well as electricity, gas and water swung from large expansions in December to sharp contractions in January. Manufacturing, along with water supply and waste management, also deteriorated markedly compared to the previous month, although both sectors still managed to post positive growth in January.
On a month-on-month basis, industrial production contracted 3.1% in January, which contrasted December’s 2.3% rise and marked a multi-year low. As a result of January’s sluggish performance, the overall trend pointed downward, with annual average growth in industrial production edging down from 3.5% in December to 3.3% in January.
Author: Cecilia Simkievich, Economist