Czech Republic Industrial production September 2020

Czech Republic

Czech Republic: Softest decline in industrial output in seven months in September

November 6, 2020

Industrial production declined 1.5% year-on-year in working-day adjusted terms in September, which followed August’s 5.5% drop and marked the softest fall since February. Meanwhile, the trend steadied, with the annual average variation of industrial production coming in at August’s minus 8.6% in September.

September’s improvement was driven by a much softer contraction in the manufacturing and mining and quarrying sectors, which more than offset a sharper downturn in the electricity, gas, steam and air conditioning supply sector.

On a monthly basis, industrial production jumped 4.1% in seasonally-adjusted terms in September, contrasting August’s 0.9% decrease.

FocusEconomics Consensus Forecast panelists expect industrial output to expand 7.4% in 2021, which is unchanged from last month’s forecast. In 2022, they see industrial production growing 4.2%.

Author: Massimo Bassetti, Senior Economist

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Czech Republic Industrial production Chart

Czech Republic Industry September 20 20 0

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

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