GUS data reveals industrial output on the rise

Monetary Policy Council Member (RPP) Dariusz Rosati, declared that a 10% increase in industrial output recorded in July is a sign of economic recovery, adding that a GDP growth of 4% is expected in the third quarter, compared to 2.2% in the first quarter. "The data from the Main Statistical Office (GUS) are above our expectations, and an increase in output of 10% is our best result in years," said Rosati on Wednesday. GUS yesterday announced that industrial output rose by 10.3% year-on-year, while an increase of 4.9% was recorded as compared to the previous month, a result exceeding analysts' expectations. Rosati also emphasized that a significant change was due to production in the construction and building industry rising for the first time after a long period of inactivity. (Gazeta Wyborcza. p.1) A.K.