Latest statistics show industrial growth accompanied by rising prices

Industrial output grew 9.6% yoy in May, slowing down slightly from the spectacular growth rates of over 20% recorded in March and April. The production of cars, radio and TV equipment were among the leaders in the boom, growing at almost 60% and 27%, respectively. Meanwhile, construction output fell in May, as the increase in VAT from May 1 caused investors to accelerate construction projects before that date. The Central Statistical Office (GUS) reported that the increase in the prices of industrial goods, also coincidentally rose by 9.6% yoy. However, this result can largely be attributed to the surge in oil and metal prices on world markets. (Rzeczpospolita, June 19-20, p. B1) T.J.