Poland Industrial Output Falls in April
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Poland's industrial production declined for the second straight month in April and at the steepest pace in almost three years, while producer price inflation eased further to the lowest level in nearly two years, reports from the Central Statistical Office (GUS) revealed on Monday.
Industrial production dropped 6.4% year-on-year in April, which was worse than the 3% decrease in March. This was the fastest decline since May 2020, when production plunged 16.9%.
Among sectors, mining and quarrying output contracted 11.7% annually in April, and that of electricity, gas, steam, and air conditioning supply dropped 14.3%. Mining and quarrying production fell by 5.6%.
On a monthly basis, industrial output slumped 14.8% in April after rebounding sharply by 13.9% in the prior month.
In a separate report, the Warsaw-based agency revealed that producer price inflation moderated to 6.8% in April from 10.3% in the previous month.
On a month-on-month basis, producer prices were down 0.6% at the start of the second quarter.
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