Poland: Industrial production continues to grow at a robust pace
October 19, 2011
In September, industrial production expanded 7.7% over the same month last year, which was below the 8.1% increase recorded in August but widely exceeded market expectations of a more modest 5.2% rise. According to the Central Statistical Office (CSO), output increased in the majority of categories surveyed, most notably in the manufacture of basic metals and metal products. A month-on-month comparison confirms the robust pace of expansion implied by the annual data, as industrial production added a seasonally adjusted 1.9% over the previous month, which was slightly short of the 2.2% increase in August. However, the trend continued to deteriorate, with annual average growth in industrial production falling from 7.9% in August to 7.6% in September.