Czech Republic: Industrial production continues to expand in October
December 9, 2013
In October, industrial production increased 3.5% over the same month last year. The reading came in below the 7.2% increase observed in September but marks the fourth consecutive month of positive growth in industrial output following eight consecutive months of decline. The October expansion reflected an increase in manufacturing output and a rebound in electricity, gas, steam and air conditioning supply.
A month-on-month comparison confirms the annual increase. Industrial production expanded a seasonally-adjusted 1.7% in October, which contrasts the 1.5% decrease registered in September.
Moreover, the trend stabilized in October; the annual average variation in industrial production remained at September's minus 2.0%.
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.
Author: Ricardo Aceves, Senior Economist