Poland: Industrial production slumps in August
September 19, 2014
In August, industrial production contracted 1.9% over the same month last year. The reading contrasted both the 2.3% increase tallied in July and market expectations of a 0.2% expansion. The deceleration reflected losses in the electricity, gas, and steam sector as well as in the mining and quarrying industry and in manufacturing.
On a month-on-month basis, industrial production expanded a seasonally-adjusted 0.7% in August, which was a notch down from the 1.1% increase observed in July. The overall trend moderated, with annual average growth in industrial production falling from 4.3% in July to 4.0% in August.
Author: Carl Kelly, Economist