Poland: Industrial production slows to a sluggish pace in March
April 19, 2012
In March, industrial production expanded 0.7% over the same month last year, which was considerably below both the 4.8% increase observed in February and market expectations, which had industrial production rising 4.4%. In fact, the reading represented the slowest increase in industrial output since August 2009. The result mainly reflected a slowdown in manufacturing production and in particular in the manufacture of motor vehicles. On a month-on-month basis, industrial production fell a seasonally adjusted 2.0% over the previous month, which exceeded the 1.7% decline seen in February. In addition, the trend continues to deteriorate, with annual average growth in industrial production falling from 6.4% in February to 5.9% in March.