Poland: Industrial production dives in June, on falling manufacturing output
Industrial output fell 2.7% year-on-year in June, contrasting May’s 7.7% jump and marking the worst reading in nearly three years, according to the Central Statistical Office (GUS). A significant contraction in the manufacturing sector and lower mining and quarrying production were behind the drop, only partly offset by expansions in the utilities sector. In the all-important manufacturing sector, the decreases that weighted the most on the overall result were recorded in the manufacture of food products, metal products, and of motor vehicles.
All told, annual average growth in industrial output declined to 5.5% from May’s 6.3%, a 21-month low.