Poland: Industrial output growth hits near 15-year high in March
Industrial output rose 18.9% year-on-year in March (February: +2.5% yoy), marking the strongest expansion since May 2006. The reading reflected a broad-based upturn, with activity in the manufacturing, and electricity, gas and utilities sub-sectors expanding at a faster clip compared to the previous month. Moreover, the decline in the mining and quarrying sub-sector softened in March.
On a seasonally-adjusted monthly basis, factory output rose at a quicker rate of 2.3% in March (February: +0.5% mom). Meanwhile, the trend improved sizably, with the annual average variation of industrial production coming in at plus 0.6% in March, contrasting February’s minus 1.2%.