Analysts reflect on severe drops in Polish industrial, chem output

21 January 2013 15:52  [Source: ICIS news]

LONDON (ICIS)--Poland suffered a 10.6% year-on-year slump in industrial production in December 2012 - including an 8.1% drop in chemical output - that was much worse than analysts expected, Raiffeisen Centrobank (RCB) said on Monday.

“[The figures] were even more severe than our already quite pessimistic evaluations,” the bank said in a note to investors.

Erste Group Bank also said the output statistics were much worse than the expectations of analysts, noting that they included a 22.2% decrease in the manufacture of motor vehicles, trailers and semi-trailers and a 22.6% decline in furniture production.

By: Will Conroy
+44 20 8652 3214

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