WARSAW (dpa-AFX) - Poland's industrial production expanded at the fastest pace in nearly one and a half years in September on the back of strong manufacturing growth, while producer prices continued their falling trend, separate reports from Statistics Poland revealed on Monday.
Industrial production rose 7.4 percent year-over-year in September, much faster than the 0.7 percent rise in August. Economists had expected a 5.0 percent increase for the month.
Further, this was the strongest growth since April 2024, when production advanced 7.8 percent.
Among sectors, output produced in the manufacturing sector expanded by 8.2 percent annually in September. On the other hand, production in the utility sector contracted by 3.6 percent, and mining and quarrying output was 1.5 percent lower.
On a monthly basis, industrial output surged 16.0 percent in September, reversing a 7.0 percent fall in August.
In a separate report, the statistical office revealed that producer prices declined 1.2 percent annually in September, following a 1.3 percent drop in August. Prices have been falling since July 2023.
A decrease of 4.7 percent in prices in the mining and quarrying sector mainly caused the yearly decline. Prices for the manufacturing sector also dropped 1.2 percent, and those for the utility sector edged down by 0.1 percent.
On a month-on-month basis, producer prices dropped 0.5 percent.
Separate data revealed that average gross wages and salaries in the enterprise sector grew 7.5 percent annually in September, as expected.
The average paid employment in the enterprise sector dropped 0.8 percent in September, in line with expectations.
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