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Financial News: Poland's Industrial Output Rises Less Than Expected

Poland's Industrial Output Rises Less Than Expected

09/18/2020 - 08:24:00 (RTTNews)

(RTTNews) - Poland's industrial production grew less than expected in August, data from Statistics Poland revealed Friday.

Another report showed that producer prices declined at a faster pace in August due to lower cost in manufacturing.

Industrial production advanced 1.5 percent annually versus a 1.5 percent fall in the same period last year. However, this was slower than the expected growth of 2.8 percent.

On a monthly basis, industrial output decreased 5.8 percent in August.

Manufacturing output rose 2 percent, while mining and quarrying output was down 10.7 percent. Electricity output decreased 2.7 percent in August.

Producer prices dropped 1.2 percent annually, following a 0.6 percent in July, the statistical office said in a separate report. Economists had forecast a 1 percent drop.

Prices in manufacturing slid 2.1 percent, while prices in mining and quarrying grew 5.3 percent, and electricity and other utilities gained 2 percent. Water supply, sewerages and waste management prices advanced 5.9 percent.

Month-on-month, producer prices dropped 0.3 percent, offsetting a 0.3 percent rise in July.

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