Industrial production growth confirms end of recession in Q2 - official

2020-07-20 15:18 update: 2020-08-01, 09:19
Pawel Borys. Photo: PAP/Tomasz Gzell
Pawel Borys. Photo: PAP/Tomasz Gzell
The industrial output's year on year increase in June affirms the end of the recession in Poland in the second quarter and signals that the GDP's Q2 decline may be below 10 pct, the Polish Development Fund (PFR) head Pawel Borys commented on Monday's stats data.

According to Poland's Central Statistical Office, in annual terms, the country's industrial production grew by 0.5 pct in June 2020, after a 17.0 pct decrease in May. In monthly terms, June's industrial output rose by 13.9 pct.

"The increase in industrial production y/y in June is more good news for the economy, confirming the end of the recession in Poland in Q2 and indicating that the decline in GDP in Q2 is likely to be below 10 percent," Borys tweeted on Monday.

He also noted that the economic recovery should stabilise public finances. (PAP)
 

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