Czech Republic Industrial production August 2020

Czech Republic

Czech Republic: Decline in industrial output sharpens in August

October 7, 2020

Industrial production declined 5.5% year-on-year in working-day adjusted terms in August, which followed July’s 5.0% drop. Accordingly, the trend pointed down, with the annual average variation of industrial production coming in at minus 8.6%, down from July's minus 8.3%.

August’s deterioration was driven by a sharper contraction in the manufacturing and mining and quarrying sectors, as well as by a downturn in the electricity, gas, steam and air conditioning supply sector.

On a monthly basis, industrial production declined 0.9% in seasonally-adjusted terms in August, contrasting July’s 5.7% increase.

FocusEconomics Consensus Forecast panelists expect industrial output to plunge 11.7% in 2020, which is unchanged from last month’s forecast, and grow 7.1% in 2021.

Author: Massimo Bassetti, Senior Economist

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Czech Republic Industrial production Chart

Czech Republic Industry August 20 20

Note: Year-on-year and annual average variation of working-day adjusted industrial production index in %.
Source: Czech Statistics Office (CSO) and FocusEconomics calculations.

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