Industrial production in October increased by 7.8 percent year-on-year, according to data published by the Central Statistical Office (GUS). Previously, economists forecasted growth of 5.2 percent. By comparison, production increased by 8.8 percent in September.
On Monday, the CSO also announced that industrial production prices in October rose by 11.8 percent. Every year. Analysts’ consensus pointed to 10.8%. In September, it was 10.3 percent. After correction.
“These charts speak for themselves. The second consecutive positive surprise and a sharpening of the short-term trend. All this in an environment where risks dominate” – reads the commentary of mBank Research analysts.
“Polish industry continues to surprise positively. In October, growth by 7.8% y / y (3 percentage points above forecasts) and by 2% m / m with a very good result despite unfavorable external circumstances. The long-term trend lags behind “- Pekao experts wrote.
“Industrial production positively surprised us and the market consensus rose by as much as 7.8% YoY in October against 8.8% in September. In SA terms, growth accelerated from 8.7 to 9.8%!” – PKO Research economists comment.
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