FX.co ★ Poland Industrial Production Increases Less Than Expected; Producer Prices Rise Further

Poland's industrial production grew less than expected in May, data from Statistics Poland revealed on Tuesday.

Separate data from the statistical office showed that producer price inflation increased slightly in May.

Industrial production grew 15.0 percent annually in May, following a 12.4 percent increase in April. Economists had expected a growth of 15.3 percent.

Manufacturing output rose 15.2 percent yearly in May and mining and quarrying output gained 17.9 percent.

Electricity, gas, steam and air conditioning supply output and water supply grew 12.1 percent and 11.0 percent, respectively.

On a monthly basis, industrial output rose 1.4 percent in May, after an 11.7 percent drop in the prior month.

Producer prices increased 24.7 percent annually in May, following a 24.1 percent rise in April, the statistical office said. Economists had forecast an annual rate of 24.8 percent.

Prices in mining and quarrying grew 24.3 percent and prices in manufacturing gained 22.1 percent.

Prices for electricity, gas supply, steam and air conditioning, and water supply, sewerage and waste management prices gained by 45.4 percent and 7.0 percent, respectively.

On a month-on-month basis, producer prices rose 1.3 percent in May, after a 2.5 percent increase in the prior month.