Poland: Industrial production falls most in almost four years in December
January 18, 2013
In December, industrial production fell 10.6% over the same month the year before, which followed on the 0.8% decline tallied in November and exceeded market expectations of a more moderate 6.5% contraction. In fact, the reading represented the steepest decline seen since April 2009. The deterioration mainly reflected a sharp decline in manufacturing as well as in mining and quarrying.
On a month-on-month basis, industrial production fell a seasonally adjusted 1.9%, which followed the 0.9% decrease seen in November. Overall, industrial production grew 1.4% in 2012, which was well below the 7.0% registered in 2011.