Poland: Industrial production growth slows in August
September 18, 2013
In August, industrial production rose 2.2% over the same month last year. The increase was far below the 6.3% rise tallied in July and undershot market expectations of a 2.7% increase. The result mainly reflected growth in the electricity, gas and steam sector.
On a month-on-month basis, industrial production contracted a seasonally-adjusted 4.5%, which contrasted the 0.5% rise observed in July. The overall trend increased slightly, with annual average growth in industrial production picking up from minus 0.4% in July to minus 0.2% in August.
FocusEconomics Consensus Forecast panelists expect industrial production to increase 1.9% in 2013, which is unchanged from last month's forecast. For 2014, the panel expects industrial production growth to accelerate to 4.2%.
Author: Carl Kelly, Economist