Czech Republic Industrial production June 2017

Czech Republic

Czech Republic: Growth in industrial production decelerates significantly in June

August 7, 2017

Industrial production expanded 2.2% year-on-year in June, down from May’s 8.1% expansion. The reading reflected reasonable growth in manufacturing—due in large part to higher production of motor vehicles, trailers and semi-trailers, and rubber and plastic products—which more than offset slight contractions in the electricity, gas, steam and air conditioning supply, and mining and quarrying sectors. It should also be noted that June 2017 contained the same number of working days as the same month of the prior year.

A month-on-month comparison showed that industrial output contracted 3.8% in seasonally adjusted terms in June, which strongly contrasted May’s 3.3% increase. Consequently, annual average growth in industrial production decreased from 3.8% in May to 3.6% in June.

FocusEconomics Consensus Forecast panelists expect industrial output to expand 3.6% in 2017, which is down 0.1 percentage points from last month’s forecast. For 2018, panelists expect industrial output to expand 4.1%.

Author: Massimo Bassetti, Economist

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