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.
November 24, 2021
The economic sentiment indicator, published by the Czech Statistical Office (CSO), dipped to 95.2 in November from 95.3 in October, marking the worst print since April. Consumer confidence weakened again in November, with the index plunging to 90.4 from 98.5 in October.
November 11, 2021
Consumer prices jumped 1.02% from the previous month in October, following September’s 0.17% rise.
November 8, 2021
Industrial production declined 4.1% year-on-year in working-day adjusted terms in September (August: -1.4% yoy).
November 5, 2021
At its 4 November meeting, the Board of the Czech National Bank (CNB) decided to raise the two-week repo rate by 125 basis points to 2.75%, marking the fourth consecutive hike and surprising markets on the upside.
November 3, 2021
The IHS Markit Manufacturing Purchasing Managers' Index (PMI) dropped to 55.1 in October from September's 58.0.