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Financial News: Poland Industrial Production Rises; Producer Prices Fall

Poland Industrial Production Rises; Producer Prices Fall

11/20/2020 - 06:41:00 (RTTNews)

(RTTNews) - Poland's industrial production rose more than expected in October, data from Statistics Poland showed on Friday.

Separate data showed that producer prices declined at a softer pace in October.

Industrial production grew 1.0 percent annually in October. Economists had expected a growth of 0.5 percent.

On a monthly basis, industrial output increased 3.2 percent in October.

Manufacturing output rose 2.3 percent and mining and quarrying output grew 5.9 percent. Electricity output and water supply gained by 4.3 percent and 16.9 percent, respectively.

Producer prices declined 0.4 percent annually in October, following a 1.4 percent fall in September. Economists had forecast a 0.8 percent decrease.

Prices in manufacturing fell 1.2 percent, while prices in mining and quarrying grew 5.8 percent. Prices for electricity, gas supply, steam and hot, and water supply, sewerage and waste management prices increased by 2.4 percent and 6.1 percent, respectively.

On a month-on-month basis, producer prices rose 0.4 percent in October, following a 0.3 percent rise in the prior month.

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