Czech Republic Industrial production October 2021

Czech Republic

Czech Republic: Industrial activity falls at sharpest pace since June 2020 in October

December 8, 2021

Industrial output declined 4.9% year-on-year in working-day adjusted terms in October, which was a larger contraction than September's 4.0% decrease. The outturn marked the worst reading since June 2020. October's downturn largely reflected a deterioration in manufacturing and mining and quarrying output.

On a monthly basis, industrial production grew 0.9% in seasonally-adjusted terms in October, rebounding from September’s 3.0% fall. Meanwhile, annual average industrial production growth fell to 6.9% in October (September: +7.5%). This signals a worsening trend in the industrial sector.

FocusEconomics Consensus Forecast panelists expect industrial output to expand 5.2% in 2022, which is unchanged from last month’s forecast. In 2023, they see industrial production growing 4.1%.


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Czech Republic Industrial production Chart

Czech Republic Industry October 2021

Note: Year-on-year and annual average variation of working-day adjusted industrial production index in %.
Source: Czech Statistics Office (CSO) and FocusEconomics calculations.

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