GUS reports industrial output booming buoyed by strong Polish exports

The Central Statistical Office (GUS) reports industrial output increased 9.3% year-on-year in August which in monthly terms is a jump of 6.1% compared to a 6.9% decrease in July. The increase in production was seen in 26 out of 29 industrial sectors. The continuing production growth is a very optimistic sign for the Polish economy indicating that in the current situation when domestic demand is weak, exports are growing which is good news considering the high trade deficit. GUS also says the producer price index increased only 0.3% in August giving a year-on-year rate of 8.3%, down from 9.0% in July. (Prawo i Gospodarka, page 18, Reuters)