Czech Republic: Industrial production growth jumps in January
March 15, 2018
Industrial production expanded 5.5% year-on-year in January, which was up from December’s more modest 3.3% rise. The most notable increases were recorded in the manufacture of motor vehicles, trailers and semi-trailers; machinery and equipment; and electrical equipment. These offset a marked contraction in the output of electricity, gas, steam and air conditioning supply. It should be noted that January 2018 contained the same amount of working days as the same month a year earlier.
In seasonally-adjusted month-on-month terms, industrial output contracted 0.6% in January, a softer downturn than the previous month’s 1.5% drop. Annual average growth in industrial production moderated from 6.5% in December to 6.0% in January.
Czech Industrial Production Forecast
FocusEconomics Consensus Forecast panelists expect industrial output to expand 4.3% in 2018, which is down 0.1 percentage points from last month’s forecast. For 2019, panelists also expect industrial output to expand 3.8%.
Author: Jan Lammersen, Economist