Czech Republic: Industrial production rebounds strongly in October

Industrial production jumped 6.7% year-on-year in October, rebounding from September’s 0.6% dip. Notably, there was one additional working day in October than in the same month last year, propping up the headline figure. Manufacturing output rebounded strongly in October, largely due to a sharp increase in production of vehicles and metal products. Similarly, the electricity, gas, steam and air conditioning sector posted marginal output gains after contracting in the previous month. Meanwhile, output in the mining and the quarrying sector contracted for the third consecutive month in October.

In seasonally-adjusted month-on-month terms, industrial output declined 1.1% in October, contrasting the 1.1% upturn recorded in September. Meanwhile, annual average growth in industrial production slid from 4.2% in September to 3.8% in October, a near two-year low.

Czech Republic Industrial Production Forecast

FocusEconomics Consensus Forecast panelists expect industrial output to expand 3.2% in 2019, which is down 0.1 percentage points from last month’s forecast, and 2.7% in 2020.