WARSAW, Poland, Aug. 19 (UPI) -- Poland's industrial output growth slowed sharply in July to 6 percent year-on-year after 15.8 percent growth in June, official figures showed.
The data, quoted in local media Thursday, was taken by financial markets as a further sign interest rates may not be raised as quickly as they had previously expected. In month-on-month terms, industrial growth dropped by 4 percent after a 2.8 percent month-on-month rise in the previous month.
Polish factory gate prices in July were up by 8.6 percent year-on-year in July, down from 9.1 percent year-on-year producer price growth in June.
The latest figures come hard on the heels of consumer price inflation data released earlier in the week, which were below market expectations. July inflation came in at 4.6 percent year-on-year.
Taken together, analysts said, this week's economic indicators made it less likely the central bank would push ahead with a further interest rate rise any time soon.
In June and July interest rates were raised by a total of 75 basis points, bringing the key official interest rate to 6 percent.
