Industry in Czech Republic
Czech Republic - Industry
Industrial output contracts at sharpest pace in over a decade in March on Covid-19 hit
Industrial production collapsed 10.8% year-on-year in working-day adjusted terms in March (February: -0.9% year-on-year), marking the tenth consecutive month of decline and the steepest contraction since July 2009.
The sharper downturn was primarily driven by a plunge in manufacturing output as car manufacturing plants shut down operations due to the Covid-19 crisis. In addition, the mining and quarrying sector contracted at a more pronounced rate than in February.
On a seasonally-adjusted monthly basis, industrial production fell at stronger pace of 8.7% in March (February: -0.3% month-on-month). The reading marked the worst result on record. Meanwhile, the trend pointed down, with the annual average variation of industrial production coming in at minus 1.6% in March, down from February's minus 0.7%.
FocusEconomics Consensus Forecast panelists expect industrial output to plunge 7.2% in 2020, which is down 8.3 percentage points from last month’s forecast, and grow 4.4% in 2021.
Czech Republic - Industry Data
| 2015 | 2016 | 2017 | 2018 | 2019 | |
|---|---|---|---|---|---|
| Industrial Production (annual variation in %) | 4.3 | 3.4 | 6.5 | 3.0 | -0.2 |
Czech Republic Industry Chart
Source: Czech Statistical Office and FocusEconomics calculations.
Czech Republic Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 1.64 | -1.85 % | Dec 31 |
| Exchange Rate | 22.76 | -0.66 % | Dec 30 |
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