Industrial output growth slower than expected
Poland’s industrial output grew by 5.4 percent year-on-year in March, according to data published by statistics office GUS on Thursday. Month-on-month growth was 9.4 percent.
Analysts surveyed by the Polish Press Agency had expected industrial output to grow by 6.5 percent y/y and by 9.6 percent m/m.
Seasonally adjusted industrial production grew by 5.7 percent y/y and by 0.2 percent m/m.
Production in the construction sector grew by 17.4 percent y/y and by 24.2 percent m/m in March, GUS also said.
In general, data on March industrial output confirm positive trends and justify hopes for a GDP growth slightly above 3 percent in Q1 2014, BZ WBK economists wrote in an e-mailed comment.
