GUS: industrial output decreases in October

Poland’s Central Statistical Office (GUS) reported on Monday that industrial production in Poland in October had declined by 1.3 percent, y/y. The figure contradicted the previous economic forecast, which had called for an expected 1.1 percent increase in output. Also, it noted that declines were substantial even when adjustments for seasonal factors were eliminated. In particular, construction output, including assembly production, which fell by 20.1 percent, y/y (17.5 percent when figuring in seasonal adjustments), was higher than had been expected.  Furthermore, falling production occurred in 20 of the 34 measured divisions, including beverage manufacturing, coal and lignite, and chemical and petroleum products. On the other hand, in 14 industry divisions, including motor vehicles and trailers, textiles, food and furniture, production increased. GUS also announced that producer prices were higher by 0.6 percent in comparison with October 2015. Prices in construction and assembly production fell by 0.1 percent, y/y; they also fell by the same amount in comparison with September.