Poland: Industrial production skyrockets in December
January 22, 2015
In December, industrial production expanded a notable 8.4% over the same month of the previous year, which was well above the 0.3% rise recorded in November. December’s expansion overshot the 5.2% increase that the markets had expected and marked the highest rate of growth since January 2012. The reading reflected significant improvements in all of the sub-components that comprise the index, except for water supply and waste management, which grew at the same rate as in the previous month. The largest increase was recorded in manufacturing, while mining and quarrying swung from a deep contraction to a solid expansion.
On a month-on-month basis, industrial production increased from a 0.1% rise tallied in November to a 2.3% in December, marking the highest monthly reading since January 2014. As a result of December’s improvement, the overall trend moved slightly upward, with annual average growth in industrial production rising from 3.3% in November to 3.5% in December.
Author: Cecilia Simkievich, Economist