WARSAW (dpa-AFX) - Poland's industrial production growth moderated for the second straight month in August, while producer prices rose at the fastest pace in more than three years, separate reports from Statistics Poland revealed on Friday.
Industrial production advanced 4.3 percent year-over-year in August, slower than the revised 4.8 percent growth in the prior month. Meanwhile, economists had expected an increase of 6.8 percent.
The overall upturn in August was mainly supported by an 18.7 percent growth in mining and quarrying output and a 10.5 percent expansion in the utility segment, both growing at a faster pace compared to June. On the other hand, the annual growth in the manufacturing output softened to 3.4 percent from 4.2 percent.
On a monthly basis, industrial production contracted 7.5 percent, much weaker than the 2.0 percent fall in July.
Producer prices rose 4.2 percent yearly in August, faster than the 3.1 percent growth in July. Moreover, this was the highest producer price inflation since April 2023, when prices climbed 6.2 percent.
The annual price growth in the manufacturing industry accelerated to 4.6 percent from 3.5 percent, and that in mining and quarrying quickened to 6.4 percent from 4.0 percent. Data showed that utility prices were 1.4 percent higher.
Monthly, producer prices moved up 1.0 percent in August after rising 0.6 percent in the prior month.
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