Poland: Industrial production growth softens in May, but remains strong

Industrial output rose 7.7% year-on-year in May, down from April’s 9.2% jump, according to the Central Statistical Office (GUS). The expansion was broad-based: Output in the manufacturing; mining and quarrying; water supply, sewerage waste management and remediation activities; and the production of electricity, gas, steam and air conditioning supply all recorded notable increases. In the all-important manufacturing sector, the strongest increases were recorded in manufacture of electrical equipment, and of other transport equipment.

All told, annual average growth in industrial output ticked up to 6.3% from April’s 6.1%.

Poland Industrial Production Forecast

FocusEconomics Consensus Forecast panelists expect industrial output to grow 4.8% in 2019, which is unchanged from last month’s forecast. For 2020, the panel sees industrial output growing 4.7%.