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Financial News: Poland's Industrial Output Falls More Than Forecast

Poland's Industrial Output Falls More Than Forecast

08/18/2017 - 08:18:00 (RTTNews)

(RTTNews) - Poland's industrial production declined more than expected in July on sharp reduction in manufacturing, data from the Central Statistical Office revealed Friday.

At the same time, producer price inflation accelerated in July, the statistical office said in a separate communique.

Industrial production fell 8.5 percent in July from June, bigger than the expected 6.7 percent decrease.

Within total production, manufacturing contracted 9.2 percent and mining shrank 5.5 percent. Meanwhile, output of electricity and other utilities gained 0.1 percent.

On a yearly basis, industrial production increased 6.2 percent in July. Nonetheless, this was weaker than the expected 8.4 percent rise.

Producer price inflation rose more than expected to 2.2 percent in July from 1.8 percent in June. Prices were forecast to climb 2 percent.

Month-on-month, producer prices moved up 0.3 percent, in contrast to a 0.4 percent fall in June.

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