Czech Republic: Industrial production shifts into higher gear in October
December 7, 2017
Industrial production in the Czech Republic expanded a strong 10.5% year-on-year in October, significantly above the prior month’s revised annual growth rate of 4.9% (previously reported: +4.4% year-on-year). The result was driven by healthy growth in the electricity, gas, steam and air conditioning supply sector; the manufacture of motor vehicles, trailers and semi-trailers; and the manufacture of electrical equipment products. These more than offset decreased output in the repair and installation of machinery and equipment sector. It should be noted that there were two more working days in October 2017 than in the same month last year.
In seasonally-adjusted month-on-month terms, industrial output contracted 1.5% in October, a notable contrast to the previous month’s revised flat rate (previously reported: -0.4% month-on-month). Conversely, annual average growth in industrial production picked up from a revised 4.7% in September to 5.7% in October.
Author: Jan Lammersen, Economist