Czech Republic Industry

Czech Republic

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.

FocusEconomics Consensus Forecast panelists expect industrial output to expand 4.7% in 2014, which is up 0.2 percentage points from last month’s forecast. For 2015, panelists expect industrial output to expand 4.4%.

Author:, Senior Economist

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Czech Republic Industry Chart

Czech Republic Industry May 2014

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

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