Poland: Industrial production increases at a more modest pace in March
April 19, 2011
In March, industrial production rose 7.0% over the same month last year. The reading came in below the 10.7% growth observed in February and market expectations of a 9.6% increase. The majority of the sub-sectors expanded in March, most notably manufacturing, which increased 7.5% year-on-year. On the other hand, mining and quarrying contracted in March. On a monthly basis, industrial production expanded a non-seasonally adjusted 15.3% over the previous month, well above the 3.5% increase registered in February but below market expectations of a more resilient 18.0% rise. The trend deteriorated, with annual average industrial production falling from 11.4% in February to 10.9% in March.