Czech Republic Industrial production May 2020

Czech Republic

Czech Republic: Industrial activity crashes again in May

July 7, 2020

Industrial output plummeted 25.7% year-on-year in working-day adjusted terms in May, which followed April's 33.7% record-breaking collapse. Consequently, the trend pointed down, with the annual average variation of industrial production coming in at minus 7.2%, down from April's minus 4.8% reading.

May's downturn largely reflected more moderate contractions across the three major sectors: mining and quarrying; manufacturing; and utilities supply. Notably, car production plunged by nearly half, but was less than the 80% plunge in April amid the reopening of some car manufacturing plants.

On a seasonally-adjusted monthly basis, industrial production soared 13.8% in May (April: -23.2% mom sa), the strongest increase on record.

FocusEconomics Consensus Forecast panelists expect industrial output to plunge 11.7% in 2020, which is down 0.3 percentage points from last month’s forecast, and grow 7.3% in 2021.

Author:, Economist

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Czech Republic Industrial production Chart

Czech Republic Industry May 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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