Poland Industry June 2020

Poland

Poland: Industrial production surprises on the upside in June

July 20, 2020

Industrial output rose 0.5% year-on-year in June, contrasting the 17.0% collapse recorded in May and beating market expectations of a 6.95 contraction. June’s turnaround reflected a bounce back in manufacturing activity and in water supply, as well as a softer decline in mining and quarrying output. On the other hand, the production of utilities fell at a sharper pace than in May.

Meanwhile, the annual average variation in industrial output came in at minus 1.6% in June from May’s minus 1.8%, which had marked the weakest print since December 2009.

FocusEconomics panelists expect industrial output to fall 5.3% in 2020, which is down 1.3 percentage points from last month’s forecast. For 2021, the panel expects growth in industrial output of 5.5%.


Author: Massimo Bassetti, Senior Economist

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Poland Industry Chart


Poland Industry June 20 20

Note: Year-on-year changes and annual average variation of industrial production index in %.
Source: Central Statistical Office (GUS) and FocusEconomics calculations.


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