Czech Republic: Industrial production improves further in July
September 8, 2014
In July, industrial production increased 8.6% over the same month last year. The reading followed the 8.3% increase registered in June and overshot the 6.6% rise the markets had expected. July’s result reflected an improvement in manufacturing output, while electricity generation as well as mining and quarrying contracted at a faster pace compared to the previous month.
A sequential comparison shows that industrial production increased only a seasonally-adjusted 0.7% over the previous month in July, which followed the 0.5% increase observed in June.
As a result of the stronger annual reading, the trend continues to suggest that a recovery in the industrial sector is on its way; annual average growth in industrial production rose from 5.3% in June to 5.9% in July.
Author: Ricardo Aceves, Senior Economist