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

Poland Industrial Output Rebounds, Producer Prices Fall Further

07/18/2024 - 06:52:00 (RTTNews)

(RTTNews) - Poland's industrial production increased unexpectedly in June after falling in the previous month, while producer prices continued their steep falling trend, separate reports from Statistics Poland revealed on Thursday.

Industrial production rose 0.3 percent year-over-year in June, reversing a revised 1.6 percent fall in May. Meanwhile, economists had expected a 1.3 percent decline for the month.

Among sectors, output produced in the utility segment grew by 2.9 percent annually in June, and that of the manufacturing sector rose at a moderate pace by 0.1 percent. On the other hand, production in the mining sector slid by 2.7 percent.

On a monthly basis, industrial output recovered 3.2 percent in June versus a 4.5 percent fall in May.

In a separate report, the statistical office revealed that producer prices declined 6.1 percent annually in June, slower than the 9.2 percent slump in the prior month.

A decrease of 15.3 percent in prices in the utility sector triggered the yearly decline. Prices for the manufacturing sector also fell by 5.2 percent.

On a month-on-month basis, producer prices edged up 0.1 percent.

Separate data revealed that average gross wages and salaries in the enterprise sector grew 11.0 percent annually in June, versus an expected hike of 11.5 percent.

The average paid employment in the enterprise sector dropped 0.4 percent in June, as expected.

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