Polish Car Production Up 32%

Poland’s car industry is apparently boosting, as its auto production is up for the second month consecutively in November. The number of cars produced in Poland went up 31.8 percent, after a 16.9 percent growth in October, according to Reuters.

The 84,000 units production in November was reached thanks to plants belonging to automakers like Fiat S.p.A and General Motors Co, said industry research agency Samar on Friday.

"A surprisingly high PMI indicator already prompted us to revise the industrial output forecast upwards and it seems Samar data confirms this view," said Piotr Bielski, economist at Bank Zachodni WBK. "There's a huge jump of transportation vehicles in monthly terms - almost 47 percent - and this suggests Europe's economies are rebounding as demand for transport increases."

Everything seems to be going well in Poland, as analysts expect that the November industrial output which is due on Dec 17 will rise 6.2 percent year-on-year. Even if car production suffered some decrease, just like in the other European markets, Poland managed to avoid recession. The economy growth slowed down - Poland had a 5 percent increase in 2008 - and this year analysts expect a growth of just over 1 percent.

Just yesterday, the Polish government announced officially that they will offer a 2.9 million Euro aid to Volkswagen, in order to build a new diesel engine production line at their plant in Polkowice. The German manufacturer will also invest about 60 million Euros of its own money.
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