Czech Republic: Industrial output contracts for fifth consecutive month in December
February 6, 2020
Industrial production declined 3.4% year-on-year in working-day adjusted terms December 2019, which followed the 3.2% drop recorded in November. The downturn was again primarily driven by a sharp fall in manufacturing output, particularly in the key automotive segment amid continued weakness in the German industrial sector. Meanwhile, the mining and quarrying industry shrank for a whole year running, and the electricity, gas, steam and air conditioning supply sector contracted again.
In seasonally-adjusted month-on-month terms, industrial output slipped 0.9% in December, following November’s 1.1% dip. Lastly, the annual average variation in industrial production fell to minus 0.4% from minus 0.1% in November.
Author: Javier Colato, Economist