Czech Republic Industry

Czech Republic

Industrial production continues to expand in September

In September, industrial production soared 7.1% over the same month last year. The reading, which came in well above the 1.6% increase observed in August, marks the third consecutive month of positive growth in industrial output following eight consecutive months of decline. The strong expansion was mainly driven by a sharp acceleration in manufacturing output.

A month-on-month comparison, however, does not corroborate the notable improvement suggested by the annual data. Industrial production fell a seasonally-adjusted 2.8% in September, which contrasts the 4.3% increase registered in August.

Moreover, the trend continues to point upward after having hit a three-year low in July; the annual average variation in industrial production increased from minus 3.2% in August to minus 2.1% in September.

FocusEconomics Consensus Forecast panelists expect industrial output to contract 0.5% in 2013, which is down 0.2 percentage points from last month's forecast. For 2014, panelists expect industrial output to rebound and expand 3.6%, which is up 0.2 percentage points from last month's estimate.

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Czech Republic Industry Chart

Czech Republic Industry September 2013

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

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