Poland sees biggest wood products output increase in July
Posted on August 26, 2024 |
Poland’s industrial output in July was weaker than expected due to drops in sectors linked to the German automotive industry.
Industrial production rose 4.9% year-on-year in July, missing the 7.3% forecast and improving from June’s stagnant figures.
Manufacturing output increased by 5.0% year-on-year in July, recovering from a -0.1% decline in June.
Mining output grew by 2.3% year-on-year in July, up from a -2.6% drop in June.
The biggest production increases were in wood products (+21.0% YoY), furniture (+14.5% YoY), and paper products (+13.9% YoY).
The largest declines were in electrical equipment (including EV batteries, -18.7% YoY) and motor vehicles (including trailers and semi-trailers, -9.1% YoY), due to weak export performance.
Producer price inflation (PPI) fell by 4.8% year-on-year in July, better than June’s 5.8% decline.
Price changes in July included a 3.9% drop in manufacturing, a 4.0% fall in mining, a 12.8% decrease in power generation, and a 3.8% rise in water supply and waste management.