WARSAW (dpa-AFX) - Poland's industrial production expanded at the strongest pace in three-and-a-half years in March, while the declining trend in producer prices softened further, separate reports from Statistics Poland revealed on Tuesday.
Industrial production advanced 9.4 percent year-over-year in March, faster than the 1.3 percent rebound in February. Economists had expected an increase of 4.2 percent.
The upturn in March was mainly supported by a 21.1 percent growth in mining and quarrying output and a 9.1 percent expansion in manufacturing activity. On the other hand, the annual growth in utility sector output eased to 7.4 percent from 12.1 percent.
On a monthly basis, industrial production surged 17.2 percent versus a 2.5 percent rise in February.
Producer prices fell 0.8 percent yearly in March, though slower than the 2.0 percent decrease in February. Prices have been falling since July 2023.
The utility segment largely drove the overall downward trend in March, with prices falling by 1.6 percent, followed by manufacturing with 0.8 percent lower prices. Meanwhile, mining and quarrying prices rose 0.2 percent.
Monthly, producer prices moved up 1.0 percent after rising 0.4 percent in February.
Separate official data showed that the average paid employment in the country declined 0.9 percent annually in March versus an expected fall of 0.8 percent. Corporate sector wages grew 6.6 percent from last year, faster than the expected increase of 6.3 percent.
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