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Industrial output higher than expected

19th December 2013
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The construction sector has continued its rebound

The construction sector is recovering

Industrial output in Poland grew by 2.9 percent year-on-year and fell by 6.2 percent month-on-month in November, statistics office GUS said on Wednesday. Seasonally adjusted industrial production rose by 4.4 percent y/y and declined 0.3 percent m/m.

Production in the construction sector fell by 2.9 percent y/y and by 8.9 percent m/m.

Analysts surveyed by the Polish Press Agency expected industrial output to grow by 1.7 percent y/y and decline by 5.5 percent m/m in November.

In an emailed comment, BZ WBK economists said that both total output and construction sector data surprised on the upside.

“Sectors exposed to external markets continued to perform better than others. Still, we suspect that the positive developments in output rely more and more on faster than anticipated revival of domestic demand,” they said.

Signals of recovery in the construction sector have been increasingly evident over the past months. This most likely reflects a rebound in both private and public sector investment, the economists wrote.

Poland A.M.

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