PMR Online access    |   tel. +48 12 340 51 00    |   E-mail: info@pmrcorporate.com
 


 

Industrial output up by 4.6% y-o-y in February


2012-03-19



Industrial output rose by 4.6% y-o-y in February, a deceleration compared with the previous month, according to data from the Central Statistical Office (GUS). The result was markedly below market expectations, which averaged 8.7% y-o-y.

Compared with the corresponding period of 2011, output was up in 26 (out of 34) industrial sectors. Of the main sectors, the highest growth (up by 5.5% y-o-y) was noted in water supply, waste management and remediation activities, followed by manufacturing (up by 5% y-o-y) and electricity, gas, steam and air conditioning supply (up by 4.8% y-o-y). At the same time, in mining-quarrying output declined by 6.8% y-o-y.

In the case of the country’s manufacturing sub-sectors, particularly strong increases were reported in metal products and chemicals and chemical products (up by 14.8% y-o-y in both cases). High single-digit growth occurred in machinery and equipment (up by 9.4% y-o-y), in paper and paper products (up by 8% y-o-y) and in electrical equipment (up by 7.7% y-o-y). In the food sector output rose by 6% y-o-y. On the other hand, production of other non-metallic mineral products went down by 6.8% y-o-y, furniture by 1.8% y-o-y, and coke and refined petroleum products by 1.1% y-o-y.

In January-February 2012 industrial output grew by 6.9% y-o-y.

Industrial output in Poland (%, y-o-y), February 2011-February 2012

Industrial output growth slowed sharply in February after a strong increase in January. Although the weaker February figures partly reflect lower order inflows, a trend reported by companies over the past several months, in our view the main factor was a deterioration of weather conditions. Just as relatively mild weather stimulated output for much of January, the frost snap that came the following month brought a lot of outdoor business activity to a standstill, thus hurting industrial output particularly in sectors related to construction. We expect industrial output to recover in March, helped by more benign weather conditions and a lower base of comparison, though the scale of the increase will be moderated by fewer working days compared with a year earlier.

Paweł Sionko
Senior Economist
PMR Publications



Browse and search in our archive »


subscribe to PMR RSS NEWS channelsSubscribe to PMR RSS NEWS channels »




 

Useful links         Privacy Policy
Copyright © 2018 PMR. All rights reserved.

PMR is a British-American company providing market information, advice and services to international businesses interested in Central and Eastern Europe as well as other emerging markets. PMR key areas of operation include business publications (through PMR Publications), consultancy (through PMR Consulting) and market research (through PMR Research). With over fourteen years of experience, high international standards in projects and publications, highly skilled multilingual staff and a wide network of co-operating research companies and market experts, PMR is one of the largest companies of its type in the region.