FX.co ★ Poland Industrial Output Rebounds Sharply, Producer Prices Fall Further

Poland's industrial production surged to its fastest growth in nineteen months this April, with producer prices continuing their sharp decline, according to separate reports from Statistics Poland released on Wednesday.

In April, industrial production climbed by 7.9 percent year-over-year, marking a significant recovery from a revised 5.6 percent downturn in March. Economists had predicted a more modest increase of 5.9 percent for the month.

Sector-wise, manufacturing output rose by 8.2 percent annually in April, while the mining and quarrying sector experienced a 6.2 percent increase. The utility sector, on the other hand, exhibited a marginal rise of 0.1 percent.

Month-over-month, industrial output fell by 2.2 percent in April, contrasting with a 3.9 percent gain observed in March.

In a separate statement, the statistical office highlighted that producer prices fell 8.6 percent annually in April, following a 9.9 percent drop the previous month. Analysts had anticipated an 8.3 percent decline.

Driving the annual decrease in prices was a substantial 17.1 percent reduction in utility sector pricing, coupled with a 9.0 percent drop in mining and quarrying prices. On a monthly basis, producer prices saw a 0.5 percent decline.

Additional data indicated that average gross wages and salaries in the enterprise sector rose by 11.3 percent annually in April, slightly below the expected 12.1 percent increase. Conversely, average paid employment in the enterprise sector declined by 0.4 percent in April, compared to the anticipated 0.3 percent decrease.