Czech Republic: Industrial activity falls at sharpest pace since April 2022 in July
Industrial production decreased 2.8% year on year in working-day adjusted terms in July (June: +0.9% yoy). The outturn marked the worst reading since April 2022. The figure was partly due to a deterioration in manufacturing output, as it expanded at the slowest pace since July 2022. In contrast, electricity, gas, steam and air conditioning supply output dropped at a more moderate rate.
On a seasonally adjusted monthly basis, factory output fell 2.6% in July (June: +1.4% mom), the worst result since January. Meanwhile, the trend pointed down, with the annual average growth of industrial production coming in at 2.5%, down from June’s 2.8% reading.