Shutterstock

Industrial production decreased by 2.1 percent year-on-year in February, statistics office GUS said. In month-on-month terms, it fell by 2.8 percent. In 17 out of 34 sectors analyzed by GUS, sold industrial production decreased.

The highest fall was in machinery and equipment manufacturing (13.2 percent), computers and electronic goods (12.8 percent) and metallurgy (8.2 percent).

In the remaining 17 sectors, sold industrial production increased, the most in other transportation equipment (by 15.2 percent), other non-metal mineral goods (5.1 percent) and electrical appliances (2.5 percent).

“All in all, output figures for February confirm the ongoing economic slowdown in Poland,” Nordea Bank economists wrote in a statement, “but at the same time suggest that the worst is over and with tailwind provided by a rebound in Germany (confirmed by ZEW index for March released today) the EU’s largest Eastern economy is likely to see a shy recovery within a few months.”

Poland A.M.