Polish industrial production 5.4% up y/y in November: stats office

Industrial production in Poland rose 5.4 percent in November compared with the same month a year earlier, the country’s Central Statistical Office (GUS) reported on Friday, sending a message of optimism amid the coronavirus gloom.

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The reading was better than forecast by analysts, who had expected an increase of 3.3 percent, Poland’s PAP news agency reported.

In month-on-month terms, Polish industrial production in November was 1.6 percent lower than in October, 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 by1.2 percent in November on average in year-on-year terms as the economy struggles with a coronavirus crisis.

According to the European Union’s Eurostat statistics agency, which uses a different methodology, industrial production in Poland rose by 3.4 percent in October, the second-fastest rate in the 27-nation bloc.

The Polish Prime Minister’s Office has said that some 6 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.

The Polish economy contracted 1.5 percent in the third quarter of this year, the country’s Central Statistical Office (GUS) said at the end of last month in an updated estimate.

(gs/pk)

Source: PAP

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