Poland\u2019s industrial output reading fell short of expectations in January but turned positive despite an unfavourable external environment. At the same time, PPI deflation deepened to -9.0% year-on-year. Economic recovery in 2024 will likely rely on domestic demand, while soft export demand and a strong PLN may weigh on GDP performance .<\/p>\n
Industrial production rose by just 1.6% YoY in January , following a 3.5% YoY decline in December (data revised upwards). The improved annual growth was supported \u2013 among other things \u2013 by calendar effects.<\/p>\n
The seasonally adjusted data indicates that the gradual recovery of Polish industry is continuing despite a number of unfavourable factors. Industrial production recorded a slight decline of -0.2% month-on-month (seasonally adjusted) after a very strong December, when growth was around +2.9% MoM. Production in manufacturing (where there is no impact of volatile data from the energy sector) also increased by 1.6% YoY (NSA).<\/p>\n
Among the major divisions of industry, the largest increases were in repair, maintenance of machinery and equipment (32.4% YoY), manufacture of passenger cars, trailers and semi-trailers (21.0% YoY) and other transport equipment (20.4% YoY). The deepest declines were in the manufacture of electrical equipment (-26.2% YoY), coal mining (-15.3% YoY) and the manufacture of other non-metallic mineral products (-9.2% YoY). In the main groupings, the production of capital goods and non-durable consumer goods increased, while production of intermediate, energy and durable consumer goods decreased. This suggests weak export demand (low production of intermediate goods) and a cautious attitude from consumers towards purchases of durable goods.<\/p>\n
Source : GUS Poland<\/p>\n","protected":false},"excerpt":{"rendered":"
Poland\u2019s industrial output reading fell short of expectations in January but turned positive despite an unfavourable external environment. At the same time, PPI deflation deepened to -9.0% year-on-year. Economic recovery in 2024 will likely rely on domestic demand, while soft export demand and a strong PLN may weigh on GDP performance . Industrial production rose…<\/p>\n","protected":false},"author":1,"featured_media":2311,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[18],"tags":[],"class_list":["post-2521","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-en"],"_links":{"self":[{"href":"https:\/\/www.investmentsgroup.net\/en\/wp-json\/wp\/v2\/posts\/2521","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmentsgroup.net\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmentsgroup.net\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmentsgroup.net\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmentsgroup.net\/en\/wp-json\/wp\/v2\/comments?post=2521"}],"version-history":[{"count":1,"href":"https:\/\/www.investmentsgroup.net\/en\/wp-json\/wp\/v2\/posts\/2521\/revisions"}],"predecessor-version":[{"id":2523,"href":"https:\/\/www.investmentsgroup.net\/en\/wp-json\/wp\/v2\/posts\/2521\/revisions\/2523"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.investmentsgroup.net\/en\/wp-json\/wp\/v2\/media\/2311"}],"wp:attachment":[{"href":"https:\/\/www.investmentsgroup.net\/en\/wp-json\/wp\/v2\/media?parent=2521"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmentsgroup.net\/en\/wp-json\/wp\/v2\/categories?post=2521"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmentsgroup.net\/en\/wp-json\/wp\/v2\/tags?post=2521"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}