Poland Industrial Production Grows More Than Forecast

Poland’s industrial production grew at a faster-than-expected rate in May, figures from Statistics Poland showed on Friday.

The industrial production rose 7.7 percent year-on-year in May, exceeding economists’ forecast of 7.5 percent.

Among components, water supply production surged 9.8 percent annually in May and manufacturing output rose 7.8 percent.

Production of electricity, gas, steam and air conditioning supply and mining and quarrying grew by 6.8 percent and 4.7 percent, respectively.

On a monthly basis, industrial production held flat in May.

Separate data from the Statistics Poland showed that the industrial producer price index slowed 1.4 percent annually in May, after a 2.6 percent increase in April.

The latest inflation was the lowest since April last year, when it was 1.0 percent.

On a month-on-month basis, producer prices rose 0.2 percent in May, slower than 0.4 percent in the preceding month.

The material has been provided by InstaForex Company – www.instaforex.com