Poland: Industrial production decelerates sharply in August
September 19, 2012
In August, industrial production expanded a paltry 0.5% over the same month last year, which was below both the 5.2% increase tallied in July and market expectations, which had industrial production rising 1.1%. The result mainly reflected slower growth in manufacturing production as well as a contraction in mining and quarrying. On a month-on-month basis, industrial production fell a seasonally adjusted 0.4%, which contrasted the 2.4% rise seen in July. As a result, the trend deteriorated, with annual average growth in industrial production falling from 5.5% in July to 4.9% in August.