Czech Republic: Industrial production growth remains solid in May
July 8, 2019
Industrial production rose a solid 3.2% year-on-year in May, slightly below April’s 3.3% increase. There were the same number of working days in May than in the same month last year. May’s moderation was driven by narrower output gains in the electricity, gas, steam and air conditioning supply industry, and a sharper contraction in the mining and quarrying sector. Meanwhile, manufacturing production growth held steady compared to April.
In seasonally-adjusted month-on-month terms, industrial output climbed 1.1% in May, following the 0.8% increase recorded in April. Meanwhile, annual average growth in industrial production edged up from 2.4% in April to 2.6% in May.
Author: Javier Colato, Economist