Czech Republic Industrial production May 2017

Czech Republic

Czech Republic: Industrial production rebounds vigorously in May

July 31, 2017

Industrial production expanded 8.1% year-on-year in May, strongly contrasting the 2.5% contraction registered in April. The reading reflected a turnaround in manufacturing—due in large part to higher production of motor vehicles, trailers and semi-trailers—which more than offset a downturn in the electricity, gas, steam and air conditioning and stronger growth in the mining sectors. It should also be noted that May 2017 contained one working day less than the same month of the prior year.

A month-on-month comparison showed that industrial output expanded 3.3% in seasonally adjusted terms in May, which followed April’s 0.7% increase. Nevertheless, annual average growth in industrial production decreased from 4.0% in April to 3.8% in May.

FocusEconomics Consensus Forecast panelists expect industrial output to expand 3.6% in 2017, which is down 0.1 percentage points from last month’s forecast. For 2018, panelists expect industrial output to expand 4.1%.

Author: Massimo Bassetti, Economist

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