Czech Republic: Industrial production accelerates in May
July 8, 2016
Industrial production increased 8.2% year-on-year in May, which represented an acceleration compared to the 4.2% expansion registered in April, making it the fastest pace of expansion since September 2014. The acceleration mainly reflected increases in the manufacturing of motor vehicles, trailers and semi-trailers as well as in electricity, gas, steam and air conditioning supply. Conversely, manufacturing of chemicals and chemical products as well as activity in mining and quarrying decreased over the previous month.
A month-on-month comparison showed that industrial output decreased 0.4% in seasonally-adjusted terms in May, which was milder than April’s 1.3%decrease. Due to the strong year-on-year expansion in May, the trend picked up slightly as annual average growth in industrial production inched up from 4.0% in April to 4.5% in May.
Author: Luis Lopez Vivas, Economist