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Financial News: Poland Industrial Production Recovers; Producer Prices Ris

Poland Industrial Production Recovers; Producer Prices Rise

01/22/2020 - 06:45:00 (RTTNews)

(RTTNews) - Poland's industrial production rose at a slower-than-expected rate in December, and producer prices increased for the first time in three months, figures from the Statistics Poland showed on Wednesday.

Industrial production rose 3.8 percent year-on-year in December. Economists had expected a 5.8 percent increase.

Manufacturing output rose 3.8 percent annually in December.

Among the main sectors, production of water supply grew 9.3 percent and those in electricity, gas, steam and air conditioning supply increased 4.6 percent. Meanwhile, mining and quarrying production declined 1.7 percent.

Capital goods output increased by 6.1 percent, and production of non-durable consumer goods rose by 4.6 percent and that of durable consumer goods by 4.2 percent. Intermediate goods output grew 3.1 percent.

Energy production decreased by 2.5 percent.

On a monthly basis, industrial production dropped 9.4 percent in December.

On a seasonally adjusted basis, industrial production rose 2.1 percent annually in December.

Another data showed that the producer prices rose 1.0 percent year-on-year in December, after a 0.1 percent fall in November. Economists had expected a 0.9 percent rise.

On a month-on-month basis, producer prices edged up 0.1 percent in December, after a 0.2 percent fall in the preceding month.

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