Poland once again at forefront of EU

Poland, achieving a 5.6 percent y/y increase in industrial production once again was at the forefront of EU countries, emphasized Deputy Minister of Development, Labor and Technology Robert Tomanek, commenting on Friday's Eurostat data.

Eurostat said on Friday that industrial production in Poland, adjusted for working days, rose 5.6 percent y/y in January after an increase of 6.1 percent y/y a month earlier.

“Only Ireland (27.5 percent y/y) and Lithuania (11.8 percent y/y) recorded higher growth," Tomanek emphasized.

He added that in January the highest growth was recorded in the production of durable consumer goods (up 3 percent in the EU and 1.6 percent in the euro area) and the production of intermediate goods (up 2.2 percent in the EU and 1.8 percent in the EU). The production of capital goods also increased (by 0.9 percent in the EU and by 0.9 percent in the euro area). 

"The result for Poland is similar to the data of the Central Statistical Office (GUS), according to which, after eliminating the influence of seasonal factors, industrial production in January this year increased by 5.7 percent y/y," the deputy minister indicated.

The ministry noted that Eurostat data showed that the deepest declines in annual terms occurred in Portugal (minus 6.5 percent), Malta (minus 6.2 percent), and Slovakia (minus 4 percent). In the entire European Union there was an increase in industrial production by 0.3 percent, and in the euro area by 0.1 percent. (in December, respectively: 0.1 percent and minus 0.2 percent).

It added that on a monthly basis, January industrial production (seasonally adjusted) increased by 0.7 percent across the EU and by 0.8 percent in the euro area, while in December its declines were recorded successively by 1.2 percent and 1.6 percent. 

(PAP)