Poland’s industrial production expanded strongly in December largely on the back of a rebound in manufacturing output, while producer prices continued their falling trend, separate reports from Statistics Poland showed on Thursday.
Industrial output grew 7.3 percent on a yearly basis in December, reversing a 1.1 percent fall in November. The expected rebound was 2.9 percent.
Manufacturing output expanded 7.8 percent after a 1.4 percent decrease in the previous month. The annual growth in mining and quarrying production quickened from 4.5 percent to 8.7 percent. On the other hand, production in the electricity, gas, steam, and air conditioning supply segment showed a decline of 1.1 percent.
Month-on-month, industrial production dropped 0.1 following a 9.3 percent plunge a month ago.
Producer prices decreased at a faster pace of 2.5 percent from a year ago in December, compared to 2.3 percent in November.
Prices of mining and quarrying slid 1.7 percent, and that of manufacturing contracted by 2.7 percent. Similarly, utility costs fell 1.6 percent, while water supply and waste management prices grew 1.7 percent.
Compared to November, producer prices inched up 0.1 percent.
Separate data revealed that average gross wages and salaries in the enterprise sector grew 8.6 percent annually in December, versus an expected hike of 6.9 percent.
The average paid employment in the enterprise sector dropped 0.7 percent in December, as expected.
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