Financial News: Poland Industrial Production, Producer Prices Fall In Sept

Poland Industrial Production, Producer Prices Fall In September

(RTTNews) - Poland's industrial production decreased unexpectedly in September, while producer prices continued their steep falling trend, separate reports from Statistics Poland revealed on Monday.

Industrial production fell 0.3 percent year-over-year in September, slower than the revised 1.2 percent decline in August. Meanwhile, economists had expected a 0.2 percent recovery for the month.

Among sectors, output produced in the mining and quarrying sector alone contracted by 7.3 percent annually in September, and that of the manufacturing sector dropped slightly by 0.3 percent. On the other hand, production in the utility sector advanced by 1.3 percent.

On a monthly basis, industrial output surged 9.0 percent in September, in contrast to a 4.9 percent fall in August.

In a separate report, the statistical office revealed that producer prices declined at a faster pace of 6.3 percent annually in September versus a 5.5 percent decline a month ago. The expected fall was 5.7 percent.

A decrease of 11.9 percent in prices in the utility sector triggered the yearly decline. Prices for the mining, quarrying, and manufacturing sectors also fell by 8.9 percent and 5.5 percent, respectively.

On a month-on-month basis, producer prices dropped 0.5 percent.

Separate data revealed that average gross wages and salaries in the enterprise sector grew 10.3 percent annually in September, versus an expected hike of 11.1 percent.

The average paid employment in the enterprise sector dropped 0.5 percent in September, in line with expectations.

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