Czech Republic: Industrial production decelerates in May
July 2, 2014
In May, industrial production expanded 2.5% over the same month last year. The reading represented a deceleration compared to the 7.7% increase registered April and came in well below the 5.5% increase the market had expected. May’s result, which marked the slowest pace of expansion since August 2013, reflected a slowdown in manufacturing output and deteriorations in mining and quarrying as well as in electricity, gas and air conditioning supply.
A month-on-month comparison confirms the deceleration suggested by the annual data. In May, industrial production fell a seasonally-adjusted 1.5% over the previous month, which contrasted the 1.0% increase tallied in April.
Despite the slower 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 3.9% in April to 4.3% in May.
Author: Ricardo Aceves, Senior Economist