Poland Industrial Output Growth Eases; Producer Prices Fall Further

(RTTNews) - Poland's industrial production expanded at a slower pace in August, while producer prices continued their falling trend, separate reports from Statistics Poland revealed on Thursday.

Industrial production rose 0.7 percent year-over-year in August, much slower than the upwardly revised 3.0 percent rise in July. Economists had expected a 0.3 percent increase for the month.

Among sectors, output produced in the manufacturing sector expanded by 1.1 percent annually in August. On the other hand, production in the utility sector contracted sharply by 6.7 percent, and mining and quarrying output was 2.1 percent lower.

On a monthly basis, industrial output decreased 7.1 percent in August versus a 0.4 percent increase in July.

In a separate report, the statistical office revealed that producer prices declined 1.2 percent annually in August, following a 1.3 percent drop in July. Prices have been falling since July 2023.

A decrease of 6.9 percent in prices in the mining and quarrying sector triggered the yearly decline. Prices for the manufacturing sector also dropped 1.1 percent, and those for the utility sector fell by 0.8 percent.

On a month-on-month basis, producer prices dropped 0.4 percent.

Separate data revealed that average gross wages and salaries in the enterprise sector grew 7.1 percent annually in August, versus an expected hike of 7.8 percent.

The average paid employment in the enterprise sector dropped 0.8 percent in August, as expected.