PIE: the positive financial situation of households enabled companies to increase production
Source: Pexels
In October 2024, industrial production in Poland rose by 4.7% y/y, with a 10% increase compared to the previous month, according to GUS. After adjusting for seasonal factors, production was 3.9% higher than in October 2023. The increase was driven by consumer goods manufacturers, whose output grew by 11.9% y/y.
Despite strong performance in this sector, producers of energy-related goods saw a decline of 1.9%. The improving financial situation of households allowed companies to increase production, although weak economic activity in the eurozone, especially in Germany, impacted export-oriented businesses. Additionally, the Producer Price Index (PPI) dropped by 5.2% y/y, stabilizing at levels near those seen before the war in Ukraine.
