Poland’s industrial output seems to have performed better in December

Polish industrial output is expected to have come in better in December. According to a Societe Generale research note, industrial production is likely to have expanded 3.9 percent year-on-year in December, as compared with 3.3 percent year-on-year recorded in November. The high expectations are because of the rising optimism amongst producers and a considerable recovery in car production.

The December PMI rose to 54.3 from the prior month’s 51.9. All the five PMI components moved upwards, namely new orders, output, employment, stocks of purchases and suppliers’ delivery times. New orders rose at the most rapid pace since March, with new export business growing for the first time since September. There was also a considerable recovery in car industry.

Production of new passenger cars and vans rose 12.68 percent year-on-year in December 2016, a rise from -6.87 percent year-on-year in November. This is expected to be a decisive factor in industrial output data exceeding the market consensus in December, added Societe Generale.