Czech Republic Industrial production

Czech Republic

Czech Republic: Industrial production soars in June

August 6, 2014

In June, industrial production jumped 8.1% over the same month last year. The reading represented a notable acceleration compared to the 2.5% increase registered in May and was broadly in line with the 8.0% rise the markets had expected. June’s result reflected an important improvement in manufacturing output, while electricity generation as well as mining and quarrying contracted in June, although at a slower pace. Moreover, June’s robust increase also reflected a low base of comparison, as industrial production contracted 5.2% in June 2013.

A sequential comparison confirms the base effect: industrial production increased only a seasonally-adjusted 0.1% over the previous month in June, which contrasted the 1.5% contraction observed in May.

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 4.3% in May to 5.4% in June.

FocusEconomics Consensus Forecast panelists expect industrial output to expand 4.7% in 2014, which is up 0.2 percentage points from last month’s forecast. For 2015, panelists expect industrial output to expand 4.4%.

Author:, Senior Economist

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Czech Republic Industrial production Chart

Czech Republic Industry June 2014

Note: Year-on-year changes and annual average variation of industrial production index in %
Source: Czech Statistics Office (CSO).

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