Poland’s industrial output fell by 1.5% year-on-year in January 2026, sharply reversing a 7.3% rise in the previous month and missing market expectations of a 2.4% gain. Activity declined in the manufacturing sector (-3.2% vs 7.9% in December 2025). At the same time, output growth slowed in mining and quarrying (5.5% vs 7%) and water supply, sewerage, waste management, and remediation services (3.2% vs 10.9%). Meanwhile, output recovered sharply in electricity, gas, steam, and air-conditioning (18.7% vs -2.6%). On a monthly basis, industrial output dropped by 6% in January, following a 0.1% decline in the preceding period.