Czech Republic Industrial production August 2021

Czech Republic

Czech Republic: Industrial output records largest decrease in six months in August

October 7, 2021

Industrial production declined 1.4% year-on-year in working-day adjusted terms in August (July: +6.8% yoy). August's figure marked the worst reading since February. Looking at the details of the release, mining and quarrying output increased at a softer pace in August, while electricity, gas, steam and air conditioning supply output swung to contraction. Meanwhile, manufacturing output accelerated.

On a monthly basis, industrial output dropped 3.2% in seasonally-adjusted terms in August, which contrasted July’s 1.9% expansion. Meanwhile, annual average industrial production growth rose to 7.9% in August (July: +7.6%). This signals an improving trend in the industrial sector.

FocusEconomics Consensus Forecast panelists expect industrial output to expand 10.1% in 2021, which is up 0.1 percentage points from last month’s forecast. In 2022, they see industrial production growing 5.2%, which is up 0.2 percentage points from last month’s forecast.


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