Czech Republic Industrial production March 2017

Czech Republic

Czech Republic: Growth in industrial production jumps in March

May 10, 2017

Industrial production in the Czech Republic expanded 10.9% year-on-year in March, which followed the weaker 2.7% expansion registered in February. The reading reflected a turnaround in manufacturing—thanks in large part to greater production of motor vehicles, trailers and semi-trailers—and mining, which more than offset a downturn in the electricity, gas, steam and air conditioning supply sector. It should also be noted that March 2017 contained two more working days than the same month of the prior year, lifting the final figure.

A month-on-month comparison showed that industrial output contracted 0.4% in seasonally adjusted terms in March, which contrasted February’s 0.7% increase. Nevertheless, annual average growth in industrial production increased from 3.5% in February to 4.3% in March.

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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