Poland’s Industrial Output Growth Tops Expectations, Polish unemployment at 26-year low

Unemployment in Poland

Poland’s unemployment rate fell to its lowest level since 1991. Unemployment fell from 7.4% to 7.1% – the lowest level since 1991 – when the country’s difficult transition to capitalism caused joblessness to surge. Under the communists having been around zero.

Poland’s industrial production grew more than expected in June, data from the Central Statistical Office showed Wednesday, The Business Insider reports.

Industrial output advanced 2.7 percent month-on-month in June, faster than the expected growth of 2.3 percent. Likewise, annual growth came in at 4.5 percent versus forecast of 3.9 percent.

In manufacturing, output climbed 3.4 percent from May and mining and quarrying grew 1.3 percent. Meanwhile, output of electricity, gas and utilities fell 6.9 percent.

Another report from the statistical office showed that producer price inflation slowed to 1.8 percent in June from 2.4 percent in May. Prices were forecast to gain 2.1 percent.

Month-on-month, producer prices fell 0.4 percent after easing 0.6 percent in May.

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