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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.

FocusEconomics Consensus Forecast panelists expect industrial production to increase 4.5% in 2015, which is down 0.1 percentage points from last month’s forecast. For 2016, the panel expects growth in industrial production to accelerate to 5.6%.


Author:, Economist

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Poland Industry January 2015 0

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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