Czech Republic: Industrial output deteriorates in March
Industrial output decreased 2.7% year on year in working-day adjusted terms in March, which contrasted February’s 0.7% increase. March’s notable weakening was partly due to a deterioration in manufacturing production, as it expanded at the slowest pace since May 2020. In contrast, electricity, gas, steam and air conditioning supply output fell at a softer rate.
On a monthly basis, industrial production dropped 1.7% in seasonally adjusted terms in March, contrasting February’s 2.2% expansion. Meanwhile, the trend pointed down, with the annual average variation of industrial production coming in at minus 1.2% in March, down from February’s minus 0.8% reading.