Poland's industrial sector showed signs of recovery in December, thanks to a rebound in mining and quarrying activities, as well as a deceleration in the decline of producer prices, according to official figures released on Wednesday.
In December, industrial production rose by 0.2% year-over-year, overturning the previous month's 1.3% decline, as reported by Statistics Poland. Mining and quarrying output notably increased by 2.8%, following a significant 7.5% drop in November. However, manufacturing output experienced a slight dip of 0.1%.
The increase in electricity, gas, steam, and air conditioning supply was more modest at 2.1%, while water supply and waste management activities saw a 3.8% rise. On a month-to-month basis, there was an 8.0% decrease in industrial production, which followed a 5.3% decline in the prior month.
Producer prices fell by 2.6% in December compared to the same period last year, improving from a sharper 3.8% fall in November, according to a separate report from the statistical office. The prices in the mining and quarrying sector decreased by 5.8%, and manufacturing prices fell by 1.5%. Meanwhile, utility costs plunged by 10.1%, and prices in the water supply and waste management sector rose by 3.4%.
Looking at producer prices from a month-to-month perspective, there was a 0.2% drop in December, reversing a 0.2% increase seen in November.
Additionally, data indicated that average gross wages and salaries surged by 9.8% on an annual basis in December, with a monthly increase of 4.0%.
