In September, Poland experienced an unexpected dip in industrial production, as well as a continued decline in producer prices, according to recent data from Statistics Poland released on Monday.
Industrial production witnessed a year-on-year decline of 0.3% in September, which, while smaller than August's revised 1.2% decrease, defied economists' predictions of a 0.2% rebound for the month. Breaking it down by sector, the mining and quarrying sector saw a significant reduction with a 7.3% annual contraction, and the manufacturing sector recorded a slight decrease of 0.3%. Conversely, the utility sector experienced an increase in production of 1.3%.
On a month-to-month basis, industrial output jumped by 9.0% in September, a sharp recovery from the 4.9% decline observed in August.
In a separate report, it was highlighted that producer prices fell more sharply at a rate of 6.3% year-on-year in September, compared to a 5.5% decline in the previous month, surpassing the anticipated drop of 5.7%. A noteworthy decline of 11.9% in utility sector prices greatly contributed to this annual reduction. Additionally, prices in the mining, quarrying, and manufacturing sectors decreased by 8.9% and 5.5% respectively.
Month-over-month, producer prices saw a reduction of 0.5%.
Additional statistics indicated that there was a 10.3% annual increase in average gross wages and salaries within the enterprise sector in September, slightly below the expected 11.1% rise. Meanwhile, average paid employment in the sector decreased by 0.5%, aligning with prior forecasts.
