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
|Industrial Production (annual variation in %)||4.3||3.4||6.5||3.0||-0.2|
5 years of economic forecasts for more than 30 economic indicators.
Czech Republic Industry Chart
Source: Czech Statistical Office and FocusEconomics calculations.
Czech Republic Facts
|Bond Yield||1.64||-1.85 %||Dec 31|
|Exchange Rate||22.76||-0.66 %||Dec 30|
Get a sample report showing our regional, country and commodities data and analysis.
Request a Trial
Start working with the reports used by the world’s major financial institutions, multinational enterprises & government agencies now. Click on the button below to get started.
May 12, 2022
Consumer prices rose 1.79% from the previous month in April, accelerating from March's 1.66% increase.
May 11, 2022
Industrial output grew 0.4% year-on-year in working-day adjusted terms in March, which contrasted February's 0.3% decrease.
May 9, 2022
At its 5 May meeting, the Board of the Czech National Bank (CNB) decided to raise the two-week repo rate by 75 basis points from 5.00% to 5.75%, marking the eighth consecutive hike.
May 6, 2022
The S&P Global Manufacturing Purchasing Managers' Index (PMI) dropped from March's 54.7 to 54.4 in April, the lowest value since November 2020.
May 5, 2022
The economy expanded 4.6% in seasonally-adjusted year-on-year terms in the first quarter of this year, following Q4 2021’s 3.6% increase, supported by progress on the vaccination front and easing restrictions.