Warsaw, Poland (4E) – Industrial output in Poland expanded faster than anticipated in July, boosted by gains in export-oriented industries.
Output increased by an annual pace of 2.3 percent in July from 1.7 percent in June, according to data from Poland’s statistics office released Wednesday, above the forecast by 13 bank economists surveyed by The Wall Street Journal for 2.1 percent. On a seasonally adjusted basis, output climbed 2.2 percent from the previous year.
Output expanded annually in 24 of 34 categories, with furniture production rising 14.2 percent, the automotive sector rising 14.0 percent, and electronics rising 11.1 percent. The biggest production drops were seen in coal mining and other transportation equipment. Construction output inched up slightly 1.1 percent from a year ago.
Meanwhile, producer prices fell at an annual rate of 2.0 percent last month, according to the statistics office. The figure compared with estimates for a 1.8 percent decline and a revised 1.8 percent fall in June.