Poland Industrial Output Shrinks Unexpectedly; Producer Prices Decline Further

(RTTNews) - Poland's industrial production declined for the first time in four months in June, while producer prices continued their falling trend, separate reports from Statistics Poland revealed on Monday.

Industrial production dropped slightly by 0.1 percent year-over-year in June, reversing a revised 4.0 percent rise in May. Meanwhile, economists had expected a 1.5 percent growth for the month.

Among sectors, mining and quarrying output alone fell by 8.5 percent annually in June, and that of the utility sector contracted by 6.8 percent. On the other side, manufacturing production logged a growth of 0.4 percent.

On a monthly basis, industrial output decreased 1.1 percent in June versus a 1.9 percent drop in May.

In a separate report, the statistical office revealed that producer prices declined 1.8 percent annually in June, following a 1.5 percent decrease in the prior month. Prices have been falling since July 2023.

Prices for the mining and quarrying sectors fell 10.7 percent, and those in the manufacturing sector slid by 1.4 percent.

On a month-on-month basis, producer prices edged up 0.2 percent.

Another piece of official data revealed that average gross wages and salaries in the enterprise sector grew 9.0 percent annually in June, versus an expected hike of 8.6 percent. The average paid employment in the enterprise sector dropped 0.8 percent in June, as expected.