Poland: Industrial production surprises on the upside in June
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.