Financial News: Poland Industrial Production Recovers, Producer Prices Fal

Poland Industrial Production Recovers, Producer Prices Fall Further

11/25/2024 - 06:07:00 (RTTNews)

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

Industrial production advanced 4.7 percent year-over-year in October, reversing a 0.4 percent decline in September. Economists had expected a 1.8 percent recovery for the month. Moreover, it was the first rise in three months.

Among sectors, output produced in the manufacturing sector alone grew by 5.0 percent annually in October, and that of utility sector rose by 4.0 percent. On the other hand, mining and quarrying production contracted by 3.8 percent.

On a monthly basis, industrial output surged 8.8 percent in October versus a 10.0 percent growth in September.

In a separate report, the statistical office revealed that producer prices declined 5.2 percent annually in October, slower than the 6.2 percent drop a month ago. The expected fall was 5.4 percent.

A decrease of 12.1 percent in prices in the utility sector triggered the yearly decline. Prices for the mining, quarrying, and manufacturing sectors also fell by 6.7 percent and 4.4 percent, respectively.

On a month-on-month basis, producer prices dropped 0.3 percent.

Separate data revealed that average gross wages and salaries in the enterprise sector grew 10.2 percent annually in October, versus an expected hike of 10.1 percent.

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

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