Czech Republic: Industrial production continues to expand in August
October 7, 2013
In August, industrial production increased 1.6% over the same month last year. The reading, which fell short of the 2.1% increase tallied in July, marks the second consecutive month of positive growth in industrial output after eight consecutive months of decline. The expansion was mainly driven by a rebound in the electricity category.
A month-on-month comparison confirms the improvement suggested by the annual data. Industrial production rose a seasonally-adjusted 4.7% in August, far above the 0.4% increase registered in July.
Moreover, the trend turned around in August after hitting a three-year low in July; the annual average variation in industrial production increased from minus 3.4% in July to minus 3.2% in August.
FocusEconomics Consensus Forecast panelists expect industrial output to contract 0.5% in 2013, which is down 0.2 percentage points from last month's forecast. For 2014, panelists expect industrial output to rebound and expand 3.6%, which is up 0.2 percentage points from last month's estimate.