Poland: Industrial production slows in June
July 18, 2012
In June, industrial production expanded 1.2% over the same month last year, which was below both the 4.3% increase tallied in May and market expectations, which had industrial production rising 4.1%. The result mainly reflected a slowdown in manufacturing production as well as a fall in electricity, gas and steam production. On a month-on-month basis, industrial production fell a seasonally adjusted 2.0% over the previous month, which was more than the 0.5% decline seen in May. Moreover, the trend continues to deteriorate, with annual average growth in industrial production inching down from 5.3% in May to 5.2% in June.