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Financial News: Poland Industrial Output Rebounds; Producer Prices Fall Fu

Poland Industrial Output Rebounds; Producer Prices Fall Further

02/20/2024 - 06:34:00 (RTTNews)

(RTTNews) - Poland's industrial production rebounded less-than-expected in January, while producer prices continued their falling trend, separate reports from Statistics Poland revealed on Tuesday.

Industrial production rose 1.6 percent year-over-year in January, reversing a revised 3.5 percent fall in December. Economists had expected 3.1 percent growth for the month.

Among sectors, output produced in the manufacturing sector expanded by 1.6 percent annually in January, and that of the utility sector grew by 1.5 percent.

On the other hand, production in the mining and quarrying segment dropped 4.9 percent.

On a monthly basis, industrial output growth was 2.3 percent in January versus a 9.5 percent contracttion in December.

In a separate report, the statistical office revealed that producer prices declined 9.0 percent annually in January, following a 6.9 percent fall in the prior month.

A decrease of 11.0 percent in prices in the mining and quarrying sector triggered the yearly decline. Prices for manufacturing also fell sharply, by 9.2 percent.

On a month-on-month basis, producer prices dropped 0.2 percent.

Separate data revealed that average gross wages and salaries in the enterprise sector grew 12.8 percent annually in January, versus an expected hike of 11.0 percent. In December, the increase was 9.6 percent.

The average paid employment in the enterprise sector dropped 0.2 percent in January, in line with expectations.

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