Czech Republic: Industry back on track in September
November 6, 2014
In September, industrial production rose 8.3% over the same month last year, which contrasted the 5.2% contraction observed in August. August’s sharp drop was influenced by a strong base effect. According to the Statistical office, September’s increase came on the back of a rebound in manufacturing and electricity, while the mining sector contracted at a softer pace compared to the previous month.
A sequential comparison shows that industrial production rebounded from a 3.5% contraction in August to a 4.5% expansion in September. The figure marked the fastest expansion since August 2013.
As a result of the stronger annual reading, the trend improved in September. Annual average growth in industrial production inched up from 5.3% in August to 5.4% in September.
Author: Dirina Mançellari, Senior Economist