Industrial production fell in November by 1.9 percent, compared with the same period last year, according to a report by the Polish Central Statistical Office (GUS). According to the daily Puls Biznesu, the indicator is the lowest since September 2009. “The data proves that the Polish economy is indeed slowing down. The manufacturing sector drops, as foreign demand is falling for Poland, along with domestic demand,” said Piotr Kalisz of Citi Handlowy. Polish exports are also said to be affected by the adverse exchange rate. The euro has declined over the last six month by as much as 7 percent, which is bad news for all markets, including Poland. “The appreciation of the Polish currency is reducing the competitiveness of Polish producers active on foreign markets,” said Adam Czerniak of Kredyt Bank. He expects production for the country will continue to fall in the coming months, based on the investment transaction volume.
