Czech Republic Industry

Czech Republic

Industrial output drops in May

In May, industrial production declined 2.2% over the same month last year, which contrasted the 0.5% increase tallied in April and exceeded market expectations of 2.0% contraction. According to the statistical office, the contraction was led by a deterioration in both mining and quarrying and manufacturing output.

However, a month-on-month comparison does not confirm the contraction suggested by the annual data, as industrial production rose a seasonally adjusted 0.7% in May, which contrasts the 0.6% fall observed in the April.

Meanwhile, the trend halted its downward trajectory, with the annual average variation in industrial production remaining at minus 2.9% in April.

FocusEconomics Consensus Forecast panellists expect industrial output to expand 1.3% in 2013, which is unchanged from last month's forecast. For 2014, panellists expect industrial output to accelerate to 4.1%.

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Czech Republic Industry Chart

Czech Republic Industry May 2013

Note: Year-on-year changes and annual average varation of industrial production index in %.
Source: Czech Statistical Office (CSO).

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