Polish Industrial Output Growth Accelerates in May, But Below Forecasts

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The FINANCIAL — Poland’s industrial output growth accelerated in May with refining, electric equipment and furniture driving growth, according to Nasdaq.

Output rose by an annual rate of 2.8% in May after a 2.3% rise in April, Poland’s statistics office said on June 18 but was below the 3.1% growth forecast in The Wall Street Journal survey of 14 bank economists.

Seasonally adjusted output grew 5.3% on the year in May, while construction output rose 1.3% on the year.

Polish producer prices declined at an annual rate of 2.2% in May, the statistics office said. The figure was bang in line with forecasts and compared with a revised 2.7% drop in April.

The statistics office also said retail sales last month rose 1.8% annually, above the 1.5% increase forecast by analysts. Books and car sales led the rise with 19.7% and 11.4% increases respectively.

 

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