Financial News: Poland's Industrial Output Growth Improves; Produce Price

Poland's Industrial Output Growth Improves; Produce Price Inflation Eases

02/20/2023 - 07:58:00 (RTTNews)

(RTTNews) - Poland's industrial production growth improved less than expected in January, while producer price inflation eased further to the lowest level in nearly a year, data from Statistics Poland revealed on Monday.

Industrial production grew 2.6 percent year-over-year in January, faster than the 1.0 percent increase in December. Economists had expected the growth to accelerate to 4.6 percent.

Among sectors, mining and quarrying output registered a growth of 3.9 percent, and manufacturing output was 2.8 percent higher than last year.

Electricity, gas, steam, and air conditioning supply output rose 1.7 percent, while the water supply segment contracted 2.2 percent.

On a monthly basis, industrial output fell at a slower pace of 2.5 percent in January after a 6.4 percent drop in the prior month.

In a separate report, the statistical office revealed that producer price inflation eased to 18.5 percent in January from 20.5 percent in the previous month.

Further, this was the slowest inflation rate since February 2022, when prices had risen 16.1 percent.

Prices for electricity, gas supply, steam, and air conditioning supply alone surged by 54 percent annually in January.

Prices in mining and quarrying grew 26.2 percent, and manufacturing prices gained 18.8 percent.

On a month-on-month basis, producer prices rose 0.8 percent at the start of the year, following a 0.6 percent gain in the previous month.

Data also revealed that average gross wages and salaries in the enterprise sector increased 13.5 percent year on year, versus the 12.6 percent increase expected. Meanwhile, the monthly outcome was negative, falling 6.1 percent from December.

The average paid employment in the enterprise sector showed an increase of 1.1 percent annually and 0.4 percent monthly in January.

For comments and feedback: contact editorial@rttnews.com

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS

Major Central Banks Try To Stem Contagion After Credit Suisse Rescue (14 min(s), 36 sec(s) ago)
(RTTNews) - World's major central banks announced a joint effort to prevent the banking crisis ...Full Story»

UK House Prices Rise In March: Rightmove (29 min(s), 36 sec(s) ago)
(RTTNews) - After flattening in February, UK house prices increased in March due to a jump in the ...Full Story»

Eurozone Trade Gap Narrows In January (01 hr(s), 10 min(s), 36 sec(s) ago)
(RTTNews) - Euro area trade deficit narrowed at the start of the year as the pace of fall in impor ...Full Story»

Poland Industrial Output Contracts; Producer Price Inflation At 1-Year Low (01 hr(s), 44 min(s), 36 sec(s) ago)
(RTTNews) - Poland's industrial production declined for the first time in thirty-three months ...Full Story»

Taiwan Export Orders Continue To Fall In February (03 hr(s), 08 min(s), 36 sec(s) ago)
(RTTNews) - Taiwan's export orders continued to decline in February, data released by the Mini ...Full Story»

Germany Producer Price Inflation Eases To 15.8%, Lowest Since Sep 2021 (05 hr(s), 05 min(s), 36 sec(s) ago)
(RTTNews) - Germany's producer price inflation eased for the fifth straight month in February ...Full Story»

Malaysia Trade Surplus Shrinks To MYR 19.56 Bln (06 hr(s), 32 min(s), 36 sec(s) ago)
(RTTNews) - Malaysia's trade surplus decreased slightly in February, as imports grew faster th ...Full Story»

European Economic News Preview: Eurozone Foreign Trade Data Due (07 hr(s), 12 min(s), 36 sec(s) ago)
(RTTNews) - Foreign trade from the euro area and producer prices from Germany are the top economic ...Full Story»