Industry in Czech Republic

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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  

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Czech Republic Industry Chart

CzechRepublic Industry
Note: Annual variation of industrial output in %.
Source: Czech Statistical Office and FocusEconomics calculations.

Czech Republic Facts

Value Change Date
Bond Yield1.64-1.85 %Dec 31
Exchange Rate22.76-0.66 %Dec 30

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