Polish industrial production 1% up y/y in October: stats office

The reading was slightly higher than forecast by analysts, who had expected an increase of 0.7 percent as the economy struggles with a coronavirus crisis, Poland’s PAP news agency reported.

In month-on-month terms, Polish industrial production in October was 3.2 percent higher than in September, according to the Central Statistical Office.

The latest batch of economic data came after the state-run statistics agency reported a day earlier that employment in Polish companies dropped by 1 percent in October on average in year-on-year terms while edging up by 0.1 percent from a month earlier.

The Polish prime minister has said that some 5 million jobs have been saved around the country thanks to measures including a massive relief and stimulus package that aims to shield the economy from the coronavirus.

Amid the COVID-19 pandemic, the Polish economy contracted 1.6 percent in the third quarter of this year, the Central Statistical Office said last Friday in a flash estimate.

(gs/pk)

Source: PAP

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