Poland Industrial Output Shrinks, Producer Prices Fall At Slower Rate

(RTTNews) - Poland's industrial production decreased more than expected in January after rebounding the previous month, while producer prices continued their falling trend, separate reports from Statistics Poland revealed on Thursday.

Industrial production fell 1.0 percent year-over-year in January, reversing a 0.2 percent rise in December. Meanwhile, economists had expected a larger decline of 1.4 percent.

Among sectors, output produced in the mining and quarrying sector alone contracted by 4.8 percent annually in January, and that of the manufacturing sector dropped by 0.9 percent. On the other hand, production in the utility sector advanced by 2.8 percent.

On a monthly basis, industrial output rebounded 2.3 percent in January, in contrast to a 7.9 percent plunge in December.

In a separate report, the statistical office revealed that producer prices declined at a slower pace of 0.9 percent annually in January versus a 2.7 percent decline a month ago. The expected fall was 0.7 percent.

Prices for the mining, quarrying, and manufacturing sectors also fell by 2.1 percent and 0.7 percent, respectively. Similarly, prices in the utility sector fell by 2.2 percent.

On a month-on-month basis, producer prices edged down 0.3 percent.

Separate data revealed that average gross wages and salaries in the enterprise sector grew 9.2 percent annually in January, versus an expected hike of 9.3 percent.

The average paid employment in the enterprise sector dropped 0.9 percent in January, faster than the expected drop of 0.5 percent.