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Financial News: Poland Industrial Production Rises; Producer Price Inflati

Poland Industrial Production Rises; Producer Price Inflation Slows

03/19/2020 - 05:24:00 (RTTNews)

(RTTNews) - Poland's industrial production rose at a faster-than-expected rate in February, and producer price inflation slowed, figures from the Statistics Poland showed on Thursday.

Industrial production rose 4.9 percent year-on-year in February. Economists had expected a 1.6 percent increase.

Manufacturing output rose 5.7 percent annually in February.

Among the main sectors, production of water supply grew 4.5 percent and electricity, gas, steam and air conditioning supply gained 1.5 percent.

Meanwhile, production of mining and quarrying declined 9.2 percent.

Production of capital goods increased by 5.9 percent in February and intermediate goods grew 5.2 percent.

Production of durable consumer goods rose 4.6 percent and those of non-durable consumer goods and energy gained by 3.6 percent and 1.3 percent.

On a monthly basis, industrial production gained 2.2 percent in February.

On a seasonally adjusted basis, industrial production rose 3.2 percent annually in February.

Another data showed that the producer prices rose 0.1 percent year-on-year in February, slower than 0.9 percent increase in January. Economists had expected a 0.3 percent rise.

On a month-on-month basis, producer prices edged down 0.2 percent in February, reversing a 0.1 percent rise in the previous month.

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