Poland Industrial Output Growth Improves in August
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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.
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