Czech Republic Industrial production March 2021

Czech Republic

Czech Republic: Industrial output jumps on low-base effect in March

May 7, 2021

Industrial production soared 14.9% year-on-year in working-day adjusted terms in March, which contrasted February’s 2.6% drop and benefited from an extremely low-base effect as March 2020 was the first month of the Covid-19 pandemic. Meanwhile, the trend improved, with the annual average variation of industrial production coming in at minus 4.9% from February’s minus 7.2%.

On a monthly basis, industrial production rose 3.2% in seasonally-adjusted terms in February, swinging from February’s 2.0% decrease.

FocusEconomics Consensus Forecast panelists expect industrial output to expand 7.4% in 2021, which is unchanged from last month’s forecast. In 2022, they see industrial production growing 4.2%.

Author: Massimo Bassetti, Senior Economist

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Czech Republic Industrial production Chart

Czech Republic Industry March 2021

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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