Czech Republic: Industrial production accelerates in February
April 7, 2016
Industrial production in February increased 5.6% year-on-year, which represented a notable increase compared to the 1.3% expansion registered in January. February’s reading is the strongest expansion in 3 months. The acceleration mainly reflects increases in the manufacturing of motor vehicles, trailers and semi-trailers, fabricated metal products, and of electrical equipment. The statistical office also noted that February 2016 had one more day compared to the same month last year which likely helped boost the yearly increase.
A month-on-month comparison showed that industrial output in February decreased 0.9% in seasonally-adjusted terms, which contrasted January’s 3.9% increase. The trend improved slightly as annual average growth in industrial production inched up from 4.3% in January to 4.4% in February.
Author: Robert Hill, Economist