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Weak industrial output for first two months


In January-February industrial output slumped by 14.3% y-o-y. The weak figures for the first two months of the year were the result of the collapse in foreign demand, but also of a lower number of working days compared with a year ago. By contrast, in March statistical factors will be favourable (a significantly lower reference base coupled with a higher number of working days). Consequently, we expect a substantial, if temporary, improvement in industrial output results this month.

Paweł Sionko
Construction Market Analyst, PMR

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