Polish Development Ministry expects production to drop 15 pct in May

2020-05-21 14:30 update: 2020-05-23, 12:40
Photo PAP/Andrzej Grygiel
Photo PAP/Andrzej Grygiel
The Polish Development Ministry expects industrial production to go down by around 15 percent year on year in May 2020, reads a ministry communique issued on Thursday.

"The forecast for May strongly depends on the pace of restoring production in individual sectors, especially in the automotive sector, which in April accounted for one-third of the recorded decline. Under the announced scenarios for the return to production in May, we can expect a decline in production to 15 percent," the ministry wrote.

The Central Statistical Office (GUS) reported earlier on Thursday that Poland's industrial output fell by 24.6 percent year on year in April 2020, after a 2.3 percent decrease year on year in March.

Month on month, industrial production fell by 25.5 percent in April after a 2.3 increase in March.

Economists polled by PAP expected April's industrial output to shrink by 10.0 percent year on year and by 11.2 percent month on month.

Industrial production prices went down 1.3 percent year on year in April and by 0.3 percent month on month, GUS reported.

According to economists surveyed by PAP, producer prices were expected to go down by 1.2 percent year on year and by 0.3 percent month on month. (PAP)