Poland Industrial Output Growth Improves in August

Manufacturing

Image by Pixabay

Poland's industrial production growth accelerated more-than-expected in August, while producer price inflation held steady, data from the Central Statistical Office (GUS) revealed on Tuesday.

Industrial production grew 10.9% annually in August, faster than the revised 7.1% increase in July. That was also above the 9.9% growth expected by economists.

Among sectors, mining quarrying output registered a double-digit growth of 22.5%, and output produced in the manufacturing industry was 11.1% higher compared to last year. Electricity, gas, steam and air conditioning supply output and water supply grew 5.1% and 8.2%, respectively.

On a monthly basis, industrial output rebounded 0.7% in August, after falling sharply by 7% in July.

In a separate report, the Warsaw-based statistics agency revealed that producer price inflation remained stable at 25.5% in August.

On a monthly basis, producer prices rose 0.8% versus a 1.3% increase in July. Data also showed that average gross wages and salaries in the enterprise sector increased 12.7% annually in August, but fell 2.9% from a month ago. The average gross Polish monthly wage last month was PLN 6,583.03 (EUR 1,395), according to the statistical office.

ADVERTISEMENT

Gen Gov't Deficit to Reach 6.1% of GDP in 2022 - Varga Analysis

Gen Gov't Deficit to Reach 6.1% of GDP in 2022 - Varga

Horthy Statue to be Unveiled in Parliament Parliament

Horthy Statue to be Unveiled in Parliament

UPS Appoints Regional Director Appointments

UPS Appoints Regional Director

Completion of Metro Line M3 Renovation Delayed City

Completion of Metro Line M3 Renovation Delayed

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.