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

Poland Industrial Output Rebounds; Producer Prices Fall Further

(RTTNews) - Poland's industrial production expanded more-than-expected in February, while producer prices continued their falling trend, separate reports from Statistics Poland revealed on Thursday.

Industrial production advanced 1.5 percent year-over-year in February, reversing a 1.5 percent fall in January. Economists had expected an increase of 1.3 percent.

The upturn in February was mainly supported by a 19.6 percent growth in mining and quarrying output and a 0.2 percent rebound in manufacturing activity. On the other hand, the annual growth in utility sector output eased to 13.5 percent from 18.2 percent.

On a monthly basis, industrial production recovered 2.7 percent versus a 6.0 percent fall in January.

Producer prices fell 2.3 percent yearly in February, slower than the 2.6 percent decrease in January. Prices have been falling since July 2023.

The utility segment largely drove the overall downward trend in February, with prices falling by 4.1 percent, followed by manufacturing with 2.3 percent lower prices. At the same time, mining and quarrying prices rose 1.2 percent.

Monthly, producer prices dropped at a stable rate of 0.3 percent.

Separate official data showed that the average paid employment in the country declined 0.8 percent annually in February, as expected. Corporate sector wages climbed 6.1 percent from last year, slower than the expected increase of 6.6 percent.

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