Poland: Industrial production slows markedly
July 19, 2011
In June, industrial production expanded a disappointing 2.0% over the same month last year, below the 7.8% increase in May and market expectations of a 5.7% rise. Slower output growth reflected a deceleration in manufacturing due to weaker external demand. A month-on-month comparison corroborates the deceleration implied by the annual figures, as industrial production declined a seasonally adjusted 2.2% over the previous month, which contrasted the 1.3% increase observed in May. Moreover, the trend deteriorated, with annual average industrial production falling from 10.1% in May to 9.1% in June.