Czech Republic Industrial production February 2017

Czech Republic

Czech Republic: Growth in industrial production slows in February

April 6, 2017

Industrial production in the Czech Republic grew 2.7% year-on-year in February, which followed the stronger 10.3% expansion registered in January. The reading reflected a decline in the manufacturing sector and slower growth in the electricity, gas, steam and air conditioning supply sector. In contrast, the contraction in the mining sector eased compared with the previous month. It should also be noted that February 2017 contained one less working day than the same month of the prior year.

A month-on-month comparison showed that industrial output expanded 0.7% in seasonally adjusted terms in February, significantly down from January’s revised 4.0% increase (previously reported: +3.5% month-on-month). Consequently, annual average growth in industrial production dipped from 3.7% in January to 3.5% in February.

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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