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Poland Industrial Production Grows More Than Forecast

Poland's industrial production expanded at a faster-than-expected pace in January, figures from Statistics Poland showed on Wednesday.

Industrial production surged 6.1 percent year-over-year in January, exceeding economists' forecast for an increase of 3.7 percent. In December, producer grew 2.8 percent.

Among components, electricity, gas steam and air conditioning supply grew 15.1 percent annually in January, followed by water supply and related services that rose 7.2 percent.

Manufacturing output rose 5.3 percent annually in January and mining and quarrying production grew 0.8 percent.

On a monthly basis, industrial production rose 7.4 percent in January, faster than the expected rise of 5 percent. In December, output fell 11.5 percent.

Another report from the statistical office showed that industrial producer prices rose 2.2 percent annually in January, after a 2.1 percent rise in December. Economists had forecast a 2.1 percent increase.

Month-on-month, producer prices edged up 0.2 percent in January, after a 1.0 percent decline in the previous month. Economists had expected a modest gain of 0.1 percent.

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