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


Industrial output rose by 4.6% y-o-y in May, an acceleration compared with the previous month, according to data from the Central Statistical Office (GUS). The result is well ahead of market expectations, which averaged 3% y-o-y.

Compared with the corresponding period of 2011, output was up in 23 (out of 34) industrial sectors. Of the main sectors, the highest growth (up by 5.2% y-o-y) was noted in manufacturing, followed by electricity, gas, steam and air conditioning supply (up by 3.4% y-o-y). In water supply, waste management and remediation activities output was up by 0.8% y-o-y, while in mining-quarrying it slumped by 9% y-o-y.

In the case of the country’s manufacturing sub-sectors, double-digit increases, or close, were reported e.g. in chemicals and chemical products (up by 15.3% y-o-y), electrical equipment (up by 12.5% y-o-y), food products (up by 12.2% y-o-y), coke and refined petroleum products (up by 9.6% y-o-y), or paper and paper products (up by 9.5% y-o-y). Production of metal products went up by a solid 8.8% y-o-y.

On the other hand, output in the furniture sector slumped by 10.3% y-o-y, in motor vehicles, trailers and semi-trailers it declined by 7.2% y-o-y, in pharmaceuticals by 6.6% y-o-y and in other non-metallic mineral products by 4.4% y-o-y.

In January-May 2012 industrial output rose by 4.6% y-o-y.

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

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