Czech Republic: Industrial production soars in July
September 6, 2012
In July, industrial production expanded 4.2% over the same month last year, which contrasted the revised 2.7% contraction recorded in June (previously reported: -2.2% year-on-year) and overshot market expectations of a milder 1.7% increase. The monthly jump was broad-based, reflecting notable improvements in electricity, gas, steam and air conditioning supply as well as in manufacturing. A month-on-month comparison confirms the improvement suggested by the annual figures, as industrial production increased a seasonally adjusted 1.1% in July, which contrasted the 0.2% decline recorded in June. As a result of monthly expansion, the trend picked up this month, with annual average growth inching up from 1.8% in June to 1.9% in July.
Author: Ricardo Aceves, Senior Economist