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Financial News: Poland Industrial Output Growth Exceeds Expectations, Prod

Poland Industrial Output Growth Exceeds Expectations, Producer Price Inflation Rises

04/21/2022 - 07:09:00 (RTTNews)

(RTTNews) - Poland's industrial production grew more than expected in March, data from Statistics Poland revealed on Thursday.

Separate data from the statistical office showed that producer price inflation accelerated in March.

Industrial production grew 17.3 percent annually in March. Economists had expected a growth of 11.8 percent.

Manufacturing output rose 12.4 percent yearly in March and mining and quarrying output gained 23.1 percent.

Electricity, gas, steam and air conditioning supply output and water supply surged 77.4 percent and 11.8 percent, respectively.

On a monthly basis, industrial output rose 18.2 percent in March.

Producer prices increased 20.0 percent annually in March, after a 16.1 percent rise in February, the statistical office said. Economists had forecast an annual rate of 18.0 percent.

Prices in mining and quarrying grew 24.2 percent and prices in manufacturing gained 17.5 percent.

Prices for electricity, gas supply, steam and air conditioning, and water supply, sewerage and waste management prices gained by 37.3 percent and 5.4 percent, respectively.

On a month-on-month basis, producer prices rose 4.9 percent in March, following a 1.1 percent increase in the prior month.

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