Manufacturing to push Polish economy forward this year - think-tank
The industrial sector will be a driving force behind Poland's economic growth in the second half of the year, an economic think-tank said in reaction to the latest manufacturing data.
The Central Statistical Office (GUS) said on Tuesday that Poland's industrial output rose by 18.4 percent and manufacturing prices went up by 7 percent year on year in June.
The Polish Economic Institute (PIE) wrote on Tuesday that the greatest surge was observed in the domestic sectors responsible for the production of computers and electronics (47.5 percent) and electrical devices (38.3 percent), strongly supported by foreign demand.
"The situation in this part of the economy is good - the monthly Business Climate Index by PIE and BGK bank shows record-high optimism of entrepreneurs in the manufacturing industry," PIE said.
The recovery is particularly visible in the segment of large and medium-sized enterprises, PIE also said.
According to PIE analysts, mining and natural resources are primarily responsible for June's increase in production prices.
PIE envisages that the strong trends in industrial output should remain in place until the end of the year.
"In July, the growth will reach about 10 percent and will stabilise in the following months," PIE said.