Poland: Pace of contraction in industrial production moderates but remains considerable in May
June 19, 2020
Industrial output dived 17.0% year-on-year in May, following the all-time sharp 24.6% collapse recorded in April, according to the Central Statistical Office (GUS). May’s marked contraction was due to protracted lockdown measures. The fall recorded in May mainly reflected plunging manufacturing activity and a notable fall in mining and quarrying output. Meanwhile, the production of utilities and water supply recorded a more moderate contraction.
Meanwhile, the annual average variation in industrial output came in at minus 1.8% in May from April’s 0.2% growth, marking the weakest print since December 2009.