Czech Republic: Industrial production rebounds in July
September 6, 2013
In July, industrial production increased 2.1% over the same month last year, which contrasts the 4.9% decline observed in June. The reading marks the strongest expansion in nine months and reflects a substantial improvement in manufacturing production.
A month-on-month comparison confirms the improvement suggested by July's annual data, as industrial production rose a seasonally-adjusted 0.4% in July, which contrasts the 0.7% fall observed in the June.
Nevertheless, the trend continues to point downwards, with the annual average variation in industrial production falling from minus 3.1% in June to minus 3.4% in July.
FocusEconomics Consensus Forecast panelists expect industrial output to contract 0.3% in 2013, which is down 0.3 percentage points from last month's forecast. For 2014, panelists expect industrial output to rebound and expand 3.4%.
Author: Ricardo Aceves, Senior Economist