Poland's industrial output growth set to have slowed in October

Poland's industrial output growth is expected to have decreased to 3.2% yoy in October from 4.1% in September. Figures are slightly above market consensus. Industrial output growth in October was mainly driven by growth in manufacturing (2.5% yoy) and electricity, gas & water supply (3.7% yoy). 

The PMI increased to 52.2pts from 50.9pts in October, mainly due to strong growth in orders and production volume. According to recent SAMAR data, car production growth increased to 7.0% yoy in October from -4.0% yoy in September. However, the calendar is unfavorable for industrial production - with one working day less in October than a year ago.