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 December 18. In seasonally adjusted terms, industrial production rose by 4.4 percent y/y and declined 0.3 percent m/m.
Source: Central Stastical Office
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.
Production in the construction sector fell by 2.9 percent y/y and by 8.9 percent m/m.
In an e-mailed 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 a 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.
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