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Industrial output down by 10.6% y-o-y in December


Industrial output decreased by 10.6% y-o-y in December, a sharp deterioration compared with the previous month, according to data from the Central Statistical Office (GUS). The result is below market expectations, which averaged -6.9% y-o-y.

Compared with the corresponding period of 2011, output was down in 30 out of 34 industrial sectors. Of the main sectors, only one registered an increase in output, namely electricity, gas, steam and air conditioning supply (up by 4.2% y-o-y). Output in the manufacturing sector dropped by 12.2% y-o-y, in mining-quarrying by 8.9% y-o-y, and in water supply, waste management and remediation activities by 3.3% y-o-y.

In the case of the country’s manufacturing sub-sectors, particularly significant output declines were noted e.g. in other non-metallic mineral products (down by 25% y-o-y), furniture (down by 22.6% y-o-y), motor vehicles, trailers and semi-trailers (down by 22.2% y-o-y), or computers, electronic and optical products (down by 19.3% y-o-y). Production of machinery and equipment slumped by 14.6% y-o-y, basic metals by 14.5% y-o-y, metal products by 14.4% y-o-y, rubber and plastic products by 11.8% y-o-y, coke and refined petroleum products by 10.6% y-o-y, chemicals and chemical products by 8.1% y-o-y and food products by 4.7% y-o-y. On the other hand, production of other transport equipment jumped by 32.7% y-o-y.

In 2012 as a whole industrial output was 1% higher y-o-y.

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

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