Nobody expected such an increase in production

The sold production of the Polish industry in January was higher by as much as 19.2 percent than in January 2021. The market expected a solid pop-and-demic rebound, but not so much – an average growth of less than 15 percent was forecast. Adjusted for seasonal factors, the growth was still a massive 16.4 percent.

According to the data from the Central Statistical Office (GUS), the production of energy-related goods increased the most – by as much as 39.2 percent. In the case of the production of intermediate goods, the increase amounted to 19 percent, and in the case of durable consumer goods – by 15.9 percent. A slightly lower increase was recorded in the field of investment goods – by 11.5 percent, and non-durable consumer goods – by 10.4 percent.

The results of industrial production hurt the eyes – mBank analysts wrote. It is somewhat worrying that such a spurt may turn out to be quite short-lived. It is not only the short duration of the current production growth but also the fact that it is largely the result of soaring energy prices. PIE notes high results in energy generation – although the dynamics fell from 54.9 to 51.6 percent y/y.

(bizblog)