Czech Republic: Industrial production growth picks up in June
August 6, 2018
Industrial production rose 3.4% year-on-year in June, accelerating from May’s 1.4% increase. Notably, there was one less working day in June than in the same month last year and the expansion in output was broad-based across categories. Manufacturing output growth picked up from 1.0% annually in May to 2.1% in June, primarily on the back of a marked increase in production of motor vehicles, trailers and semi-trailers; and machinery and equipment. In addition, year-on-year output in the electricity, gas, steam and air conditioning sector soared in June while it accelerated modestly in the mining and quarrying sector compared to the previous month.
In seasonally-adjusted month-on-month terms, industrial output increased 1.5% in June, moderating from the 3.0% climb recorded in May. Meanwhile, annual average growth in industrial production was unchanged from May’s 4.7%, the lowest reading in a year.
Czech Republic Industrial Production Forecast
FocusEconomics Consensus Forecast panelists expect industrial output to expand 3.6% in 2018, which is down 0.3 percentage points from last month’s forecast. For 2019, panelists expect industrial output to expand 3.4%.
Author: Javier Colato, Economist