Polish Development Ministry expects production to drop 5 pct in March
The Polish Development Ministry expects industrial production to go down by around 5 percent year on year in March 2020, reads a ministry communique issued on Thursday.
The Central Statistical Office (GUS) reported earlier on Thursday that Poland's industrial output rose by 4.9 percent year on year in February 2020, after a 4.5 percent increase year on year in January. Month on month, industrial production rose by 2.2 percent in February after a 4.5 increase in January.
Economists polled by PAP expected February's industrial output to increase by 1.9 percent year on year and by 0.2 percent month on month.
"February's sold production data suggested a growing improvement of the sector's activity. But the current situation caused by the coronavirus epidemic, both in Poland and its economic surrounding, can negatively affect the results of the industrial sector in the coming months," reads the communique.
The ministry added that everything depended on the development of the epidemiological situation in March, the effectiveness of the implementation of the economic policy, and producers' ability to adapt themselves to new conditions.