Industrial output up by 8.5% y-o-y in January

2010-02-22

Industrial output climbed by 8.5% y-o-y in January, a slight acceleration compared with the previous month, according to data from the Central Statistical Office (GUS). The result was well ahead of market expectations, which were around 5.5% y-o-y.
Compared with the corresponding period of 2009, output was up in 22 out of 34 industrial sectors. Of the main sectors, the highest growth (by 10.1% y-o-y) was noted in manufacturing, followed by water supply, sewage treatment, waste disposal and land rehabilitation (up by 6.3% y-o-y). A modest increase of 3.1% y-o-y occurred in electricity, gas, steam and air conditioning supply. By contrast, in mining-quarrying output contracted by 10.1% y-o-y.
In the case of the country’s manufacturing sub-sectors, a particularly impressive output increase was noted in computers, electronic and optical products (up by 66.7% y-o-y). Strong double-digit growth also occurred e.g. in basic metals (up by 25.8% y-o-y), motor vehicles, trailers and semi-trailers (up by 25.2% y-o-y), paper and paper products (up by 19.2% y-o-y), electrical equipment (up by 15.5% y-o-y) or chemicals and chemical products (up by 15.2% y-o-y). By contrast, output of beverages slumped by 9.5% y-o-y, that of other non-metallic mineral products was down by 8.6% y-o-y, and production of wearing apparel contracted by 7.4% y-o-y.
In 2009 industrial output declined by 3.2%.