Czech Republic: Industrial production soars in July
September 6, 2018
Industrial production surged 10.3% year-on-year in July, a nine-month high and markedly above June’s 3.1% increase. Notably, there was one additional working day in July than in the same month last year and the expansion in output was broad-based across categories. Manufacturing output growth picked up sharply in July, primarily on the back of a strong increase in production of motor vehicles, trailers and semi-trailers; and fabricated metal products. In addition, year-on-year output in the electricity, gas, steam and air conditioning sector soared in July while it accelerated modestly in the mining and quarrying sector compared to the previous month.
In seasonally-adjusted month-on-month terms, industrial output declined 1.8% in July, contrasting the 1.5% expansion recorded in June. Meanwhile, annual average growth in industrial production climbed from 4.6% in June to 5.0% in July.
Czech Republic Industrial Production Forecast
FocusEconomics Consensus Forecast panelists expect industrial output to expand 3.5% in 2018, which is down 0.1 percentage points from last month’s forecast. For 2019, panelists expect industrial output to expand 3.4%.
Author: Javier Colato, Economist