Czech Republic: Industrial output records largest decrease in six months in August
Industrial production declined 1.4% year-on-year in working-day adjusted terms in August (July: +6.8% yoy). August’s figure marked the worst reading since February. Looking at the details of the release, mining and quarrying output increased at a softer pace in August, while electricity, gas, steam and air conditioning supply output swung to contraction. Meanwhile, manufacturing output accelerated.
On a monthly basis, industrial output dropped 3.2% in seasonally-adjusted terms in August, which contrasted July’s 1.9% expansion. Meanwhile, annual average industrial production growth rose to 7.9% in August (July: +7.6%). This signals an improving trend in the industrial sector.