Polish October industrial output growth beats estimates

Automotive

Photo by Andrzej Rostek/Shutterstock.com

Poland’s industrial output growth slowed to 3.5% year-on-year in October, down from 5.6% in September, according to the latest data published by the Central Statistical Office (GUS).

Night view of the mineshaft in Katowice, Poland. Photo by Andrzej Rostek/Shutterstock.com

Analysts had expected a growth of 2.6% in October, international newswire Reurers.com said.

Annual output of manufacturing advanced 3.5% (down from 5.7% in September) and output for water supply and sewerage waste management increased by 8.3% (vs 9%).

Meanwhile, output for mining and quarrying production dropped 6.1% (vs 2.2%). On the other hand, electricity, gas, steam and air conditioning supply rose faster by 6.4% (from 3.9%).

On a monthly basis, industrial activity went up 7.8%, following a 10.7% rise in September.

In a separate report the statistical office reported that the construction sector unexpectedly shrank by 4% year-on-year. The market had expected 6.2% growth, the Warsaw-based GUS said on Friday.

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