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Industrial output up by 11.5% y-o-y in December


Industrial output climbed by 11.5% y-o-y in December, an acceleration compared with the previous month, according to data from the Central Statistical Office (GUS). The market had expected faster growth, in the region of 12.5% y-o-y.

Compared with the corresponding period of 2009, output was up in 26 out of 34 industrial sectors. Of the main sectors, the highest growth (by 14.3% y-o-y) was noted in manufacturing, followed by water supply, waste management and remediation activities (up by 8.2% y-o-y). In the two other main sectors output was lower than a year earlier: in mining-quarrying production declined by 9.2% y-o-y, whereas in electricity, gas, steam and air conditioning supply output contracted by 3.1% y-o-y.

In the case of the country’s manufacturing sub-sectors, particularly strong increases occurred in computer, electronic and optical products (up by 30.5% y-o-y), metal products (up by 27% y-o-y), and electrical equipment (up by 23.3% y-o-y). Solid double-digit growth was also noted e.g. in rubber and plastic products (up by 16.7% y-o-y), wood, cork, straw and wicker products (up by 16.4% y-o-y), and motor vehicles (up by 15.2% y-o-y). On the other hand, output in the tobacco sector slumped by 15.3% y-o-y, while production of beverages declined by 9.6% y-o-y.

In 2010 as a whole industrial output rose by 9.8% y-o-y. According to our forecasts, industrial output will grow by 8.7% this year.

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