Financial News: Poland Industrial Output Recovers; PPI Falls At Slower

Poland Industrial Output Recovers; PPI Falls At Slower Pace

(RTTNews) - Poland's industrial production recovered in December on a rebound in mining and quarrying output and producer prices registered a slower fall, official data revealed on Wednesday.

Industrial output grew 0.2 percent on a yearly basis in December, reversing a 1.3 percent fall in November, data from Statistics Poland showed. Mining and quarrying output increased 2.8 percent after a sharp 7.5 percent decrease in the previous month. Meanwhile, manufacturing output edged down 0.1 percent.

Electricity, gas, steam and air conditioning supply climbed at a slower pace of 2.1 percent and water supply, sewerage waste management activities increased 3.8 percent. Month-on-month, industrial production declined 8.0 percent following a 5.3 percent decrease a month ago.

Producer prices decreased at a pace of 2.6 percent from a year ago in December, compared to a decrease of 3.8 percent in November, the statistical office said in a separate communique.

Prices of mining and quarrying slid 5.8 percent, and that of manufacturing slid 1.5 percent. At the same time, utility cost plunged 10.1 percent, while water supply and waste management prices grew 3.4 percent.

Compared to November, producer prices dropped 0.2 percent. This follows a 0.2 percent gain in November.

Another data showed that average gross wages and salaries surged 9.8 percent annually in December. On a monthly comparison, gross wages and salaries moved up 4.0 percent.

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