Czech Republic: Industrial production cools in March
May 9, 2019
Industrial production rose a marginal 0.1% year-on-year in March, moderating from February’s 1.5% increase. There were the same number of working days in March than in the same month last year. March’s slowdown was primarily driven by the sharp contraction of the electricity, gas, steam and air conditioning supply sector. In addition, output in the mining and quarrying sector declined for the eighth consecutive month in March. In a more positive light, manufacturing output gained steam, largely due to the strong rebound in motor vehicle production.
In seasonally-adjusted month-on-month terms, industrial output slid 0.1% in March, following the 0.4% increase recorded in February. Meanwhile, annual average growth in industrial production ticked up from 2.6% in February to 2.7% in March.
Author: Javier Colato, Economist