Polish industrial production up 11.2% y/y in December: stats office

Industrial production in Poland rose 11.2 percent in December compared with the same month a year earlier, the country’s Central Statistical Office (GUS) reported on Monday, adding to hopes of a steady recovery from the coronavirus crisis.

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The reading was better than forecast by analysts, who had expected an increase of 8.6 percent, Poland’s PAP news agency reported.

In month-on-month terms, Polish industrial production in December was 4.4 percent lower than in November, according to the Central Statistical Office.

In December 2020, sold #production of #industry in #Poland was higher by 11.2% YoY, while compared to November 2020 it decreased by 4.4%.https://t.co/SFPNgTnbeu #StatisticsPoland #statistics #IndexNumberOfProduction pic.twitter.com/7qVIjyzdR1

— Statistics Poland (@StatPoland) January 25, 2021

The latest batch of economic data came after the state-run statistics agency reported last week that employment in Polish companies dropped by 1 percent in December on average in year-on-year terms as the economy struggles to recover from a coronavirus slump.

According to the European Union’s Eurostat statistics agency, which uses a different methodology, industrial production in Poland rose by 2.9 percent in November, the third-fastest rate in the 27-nation bloc.

The Polish Prime Minister’s Office has said 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.

The Polish economy contracted 1.5 percent in the third quarter of last year, after shrinking 8.4 percent in the second quarter amid the coronavirus crisis, according to the Central Statistical Office.

(gs/pk)

Source: PAP