Poland: Industrial production reaches highest rate in 18 months
August 20, 2013
In July, industrial production rose 6.3% over the same month last year, which more than doubled the 3.0% rise tallied in June. The increase marked the highest acceleration in a year and a half and exceeded market expectations of a 5.3% increase. The improvement mainly reflected strong growth in manufacturing.
On a month-on-month basis, industrial production increased a seasonally adjusted 0.5%, which contrasted the 3.1% rise observed in June. Nevertheless, the trend remained virtually unchanged, with annual average growth in industrial production inching up from minus 0.5% in June to minus 0.4% in July.
FocusEconomics Consensus Forecast panellists expect industrial production to increase 1.9% in 2013, which is unchanged from last month's forecast. For 2014, the panel expects industrial production growth to accelerate to 4.2%.
Author: Carl Kelly, Economist