Poland Industry May 2020

Poland

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.

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 May 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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