Poland's industrial production up in December - stats office

Poland's industrial output rose by 11.2 percent year on year in December 2020, the Central Statistical Office (GUS) said on Monday.

Month on month, industrial production fell by 4.4 percent in December.

Economists polled by PAP expected December's industrial output to rise by 8.6 percent y/y and to decrease by 7.0 percent m/m.

The seasonally-adjusted industrial production went up by 7.1 percent year on year and by 0.5 percent month on month in December.

Commenting the latest data, Deputy PM and Development, Labour and Technology Minister Jarosław Gowin remarked that industrial production grew for the seventh consecutive month and noted that the December result was higher than market expectations.

"Sold industrial production is increasing for the seventh time in a row. A big rise, 11.2 percent y/y was recorded in December. It is also a better result from that in (December) 2019 when it grew 3.8 percent y/y. The result was well received by the markets and exceeded the expectations of analysts (8.7 percent)," Gowin wrote on Twitter.