Czech Republic: Industrial production growth moderates in November
January 8, 2018
Industrial production in the Czech Republic expanded a robust 8.5% year-on-year in November. While the figure highlights a strong performance, it was down from the double-digit pace of growth in the prior month (October: +10.5% year-on-year). The result was driven by healthy growth in the electricity, gas, steam and air conditioning supply sector; the manufacture of motor vehicles, trailers and semi-trailers; and the manufacture of electrical equipment products. These more than offset decreased output in the mining and quarrying sector. It should be noted that November 2017 contained an equal amount of working days as in the same month a year earlier.
In seasonally-adjusted month-on-month terms, industrial output expanded 3.7% in November, a marked rebound from the previous month’s revised 1.6% contraction (previously reported: -1.5% month-on-month). Subsequently, annual average growth in industrial production increased from 5.7% in October to 5.8% in November.
Author: Jan Lammersen, Economist