Czech Republic: Industrial production growth loses pace in August
October 8, 2018
Industrial production rose 1.9% year-on-year in August, markedly below July’s nine-month high increase of 10.3%. There were the same number of working days in August than in the same month last year. Manufacturing output growth eased notably in August, largely due to the contraction in production of motor vehicles, trailers and semi-trailers. Similarly, year-on-year output growth in the electricity, gas, steam and air conditioning sector lost considerable pace while the mining and quarrying sector swung from a strong increase in July to a modest contraction in August.
In seasonally-adjusted month-on-month terms, industrial output climbed 0.7% in August, rebounding from the 2.0% dip recorded in July. Meanwhile, annual average growth in industrial production slipped from 5.0% in July to 4.7% in August.
Czech Republic Industrial Production Forecast
FocusEconomics Consensus Forecast panelists expect industrial output to expand 3.5% in 2018, which is unchanged from last month’s forecast. For 2019, panelists expect industrial output to expand 3.4%, also unchanged from last month’s estimate.
Author: Javier Colato, Economist