In June, industrial production declined 2.2% over the same month last year, which marked an slightly improvement over the 2.4% contraction recorded in May and was virtually in line with market expectations that had industrial output declining 2.0%. The reading reflected deteriorations in manufacturing output and energy supply. In contrast, output in mining and quarrying improved over the previous month. A month-on-month assessment confirms the decline suggested by annual figures, as industrial output dropped 0.3% in June, which followed the 0.2% declined recorded in May. As a result of the drop, the trend continues to point downwards, with annual average variation falling from 2.8% in May to 2.0% in June, the slowest pace in two years. Meanwhile, the Central Bank recently revised its GDP growth forecast for this year and now expects the economy to contract 0.9%, which is below its previous zero-growth projection. For 2013, the Bank foresees economic growth of 0.8%, which is well below from its previous 1.9% estimate. The Bank cited marked deceleration in global demand and weak growth in domestic demand against a backdrop of fiscal consolidation.
Czech Republic Industry
Industrial production contracts for second consecutive month
August 6, 2012
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Czech Republic Industry Chart
Note: Year-on-year changes and annual average varation of industrial production index in %.
Source: Czech Statistical Office (CSO).
Czech Republic Economic News
October 10, 2016
In September, consumer prices fell 0.2% from the previous month, matching August’s reading.
October 7, 2016
Industrial production grew 13.1% year-on-year in August, which sharply contrasted the 14.1% fall registered in July and was the best result since May 2011.
October 3, 2016
The manufacturing Purchasing Managers’ Index (PMI) produced by IHS Markit rose from August’s 50.1 to a four-month high of 52.0 in September.
September 29, 2016
At its meeting on 29 September, the Czech National Bank (CNB) decided to leave the two-week repo rate unchanged at its so-called “technical zero” of 0.05%.
September 26, 2016
The economic sentiment indicator published by the Czech Statistics Office (CSO) rose from August’s 96.8 points to 97.1 points in September, marking a seven-month high.