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Poland: Industrial Output Indicates Upswing

Published: September 18, 2013; 18:05 · (Vindobona)

In August, Poland´s industrial production was up for the third month in a row. Due to the growing exports to the Eurozone, Poland is recovering.

Poland: Industrial Output Indicates Upswing / Picture: © Vindobona.org

Compared to August 2012, Poland´s industrial output grew by 2.2%. Compared to the estimates, this is about 3.0 percentage points less. In the month before, the annual growth rate was 6.3%. From July to August, the decrease was 4.5%.

Nevertheless, Poland´s economic recovery begins to accelerate. After six quarters of decreasing growth rates, the second quarter of 2012 brought a trend reversal. After a growth rate of 0.4% in the first quarter and 0.9% in the second quarter, the annual growth rate in the fourth quarter is expected to reach 2.0%. This year, the growth rate will reach about 1.3%, economists say.

Poland´s Prime Minister Donald Tusk underlined that incoming economic data provide a favorable outlook for the second half year and the next year. Moreover, the purchasing manager index was the strongest since mid-2011. The export orders have reached the highest level since April 2011. Even the relatively tense labor market begins to relax. In July, the unemployment quota was down from 13.2% to 13.1%.

Poland´s economic recovery is mainly based on the exporting industrial sector. Due to the recovery in the Eurozone, which is the destination for 51% of Poland´s exports, Poland participates in the upswing.

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