Czech Republic Industrial production February 2021

Czech Republic

Czech Republic: Industrial output swings to contraction in February

April 8, 2021

Industrial production dropped 2.6% year-on-year in working-day adjusted terms in February, which contrasted January’s 0.3% uptick. Meanwhile, the trend deteriorated, with the annual average variation of industrial production coming in at minus 7.2% from January’s minus 6.9%.

On a monthly basis, industrial production contracted 2.0% in seasonally-adjusted terms in January, following January’s 0.8% decrease.

Commenting on the release, Jakub Seidler, chief Czech Republic economist at ING, stated:

“All in all, weaker production comes on the back of supply-side problems which will very likely remain an issue in the months ahead.”

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 February 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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