Czech Republic: Industrial production contracts in December
Industrial production declined 1.4% year-on-year in December, contrasting November’s strong 4.8% increase. Notably, there was one less working day in December than in the same month of 2017, weighing on the headline figure. December’s dip largely reflected the sharp contraction in manufacturing output, particularly in the production of machinery and equipment as well as of motor vehicles, trailers and semi-trailers. Similarly, output in the mining and quarrying sector fell for the fifth consecutive month in December. Meanwhile, the electricity, gas, steam and air conditioning sector expanded strongly after contracting in the previous month.
In seasonally-adjusted month-on-month terms, industrial output increased 0.6% in December, moderating from the 0.9% rise recorded in November. Meanwhile, annual average growth in industrial production slid from 3.5% in November to 3.1% in December.