Czech Republic: Industrial production growth moderates in November
January 8, 2019
Industrial production rose 4.8% year-on-year in November, below October’s strong 6.7% increase. Notably, there was one additional working day in November than in the same month of 2017, propping up the headline figure. November’s result largely reflected the solid upturn in manufacturing output, particularly in the production of motor vehicles, trailers and semi-trailers. Meanwhile, the electricity, gas, steam and air conditioning sector swung to contraction after posting marginal output gains in the previous month. Similarly, output in the mining and the quarrying sector declined for the fourth consecutive month in November.
In seasonally-adjusted month-on-month terms, industrial output increased 0.9% in November, rebounding from the 1.1% decline recorded in October. Meanwhile, annual average growth in industrial production slid from 3.8% in October to 3.5% in November, a two-year low.
Czech Industrial Production Forecast
FocusEconomics Consensus Forecast panelists expect industrial output to expand 3.0% in 2019, which is down 0.2 percentage points from last month’s forecast, and 2.6% in 2020.
Author: Javier Colato, Economist