Polish industrial production 1.5% up y/y in August: stats office

Industrial production in Poland rose 1.5 percent in August compared with the same month a year earlier, the country’s Central Statistical Office (GUS) reported on Friday, adding to hopes of a sustained recovery from the coronavirus crisis.

In month-on-month terms, Polish industrial production in August was 5.8 percent lower than in July, according to the Central Statistical Office.

Photo: PAP/Tytus Żmijewski

But the figure was slightly lower than forecast by analysts, who had expected an increase of 1.8 percent as the economy emerges from the COVID-19 disruption, Poland’s PAP news agency reported.

In month-on-month terms, Polish industrial production in August was 5.8 percent lower than in July, according to the Central Statistical Office.

In August 2020, sold production of #industry in #Poland was by 1.5% higher YoY.

More: https://t.co/pakeZzL1gz #StatisticsPoland #statistics #production pic.twitter.com/TEGfYXNRTj

— Statistics Poland (@StatPoland) September 18, 2020

The latest batch of economic data came after the state-run statistics agency reported on Thursday that employment in Polish companies dropped by 1.5 percent in August on average in year-on-year terms.

The Polish labour minister said on Thursday that "some 6 million jobs have been saved" around the country thanks to measures including a massive relief and stimulus package that aims to shield the economy from the coronavirus.

Amid the COVID-19 pandemic, the Polish economy contracted 8.2 percent in the second quarter of this year, the country’s Central Statistical Office (GUS) reported last month.

(gs/pk)

Source: PAP