Poland's industrial production witnessed a sharper decline in November than anticipated, following a recovery observed in the previous month, as highlighted in reports from Statistics Poland on Thursday.
In November, industrial production dropped by 1.5 percent year-on-year, overturning a 4.7 percent increase seen in October. Economists had forecasted a milder drop of 0.2 percent.
Breaking it down by sector, output in the mining and quarrying sector contracted significantly by 7.9 percent annually in November. The manufacturing sector also faced a decline, experiencing a 1.9 percent decrease. Conversely, the utility sector saw an increase in production, with a rise of 5.6 percent.
On a monthly comparison, industrial output fell by 5.4 percent in November, following a notable 9.9 percent surge in October.
In a separate analysis, the statistical office reported that producer prices decreased at a reduced pace of 3.7 percent annually in November, compared to a 5.1 percent drop the previous month. Analysts had anticipated a 3.9 percent decline.
The annual producer price drop was largely driven by an 11.4 percent decrease in the utility sector. Meanwhile, prices in the mining, quarrying, and manufacturing sectors fell by 4.5 percent and 2.7 percent, respectively.
However, on a month-to-month basis, producer prices edged up by 0.5 percent.
Additional data demonstrated that average gross wages and salaries in the enterprise sector grew by 10.5 percent annually in November, surpassing the expected increase of 9.9 percent.
Furthermore, average paid employment in the enterprise sector dipped by 0.5 percent in November, slightly better than the predicted 0.6 percent decline.
Earlier data from the National Bank of Poland indicated that the nation's core inflation, which omits food and energy prices, rose to 4.3 percent in November from 4.1 percent in October.
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