Industrial output up by 0.3% y-o-y in January
Industrial output increased by 0.3% y-o-y in January, a marked improvement compared with the previous month, according to data from the Central Statistical Office (GUS). The result is better than market expectations, which were for a decline of 2.7% y-o-y.
Compared with the corresponding period of 2012, output was up in 20 out of 34 industrial sectors. Of the main sectors, the highest increases in output were noted in mining-quarrying and in electricity, gas, steam and air conditioning supply (up by 4% y-o-y). Output in water supply, waste management and remediation activities went up by 2.3% y-o-y. At the same time, in the manufacturing sector production dipped by 0.4% y-o-y.
In the case of the country’s manufacturing sub-sectors, solid increases in output were recorded in paper and paper products (up by 7.2% y-o-y), food products (up by 7.1% y-o-y), or electrical equipment (up by 5.1% y-o-y). Production of coke and refined petroleum products grew by 2.1% y-o-y and furniture by 2% y-o-y.
By contrast, production of computers, electronic and optical products contracted by 18.3% y-o-y, other non-metallic mineral products by 9.8% y-o-y, basic metals by 9.1% y-o-y, motor vehicles, trailers and semi-trailers by 6% y-o-y, machinery and equipment by 4.7% y-o-y, chemicals and chemical products by 3.3% y-o-y, and rubber and plastic products by 2% y-o-y.
In 2012 as a whole industrial output was 0.9% higher y-o-y.