By Wojciech Kosc in Warsaw Poland’s industrial production expanded 1.6% year on year in constant prices in January (chart), after a revised fall of 3.5% y/y the preceding month, unadjusted data from the statistical office GUS showed on February 20. The reading was well below the consensus line, which expected a gain of 3.1% y/y, but low economic activity among Poland’s main trading partners weighed on Polish industrial companies, according to analysts. “This is reflected in the decline in the production of supply goods at -4.5% y/y and in the durable consumer goods segment, which fell -1.7% y/…