Czech Republic: Industrial production continues to expand in September
November 6, 2013
In September, industrial production soared 7.1% over the same month last year. The reading, which came in well above the 1.6% increase observed in August, marks the third consecutive month of positive growth in industrial output following eight consecutive months of decline. The strong expansion was mainly driven by a sharp acceleration in manufacturing output.
A month-on-month comparison, however, does not corroborate the notable improvement suggested by the annual data. Industrial production fell a seasonally-adjusted 2.8% in September, which contrasts the 4.3% increase registered in August.
Moreover, the trend continues to point upward after having hit a three-year low in July; the annual average variation in industrial production increased from minus 3.2% in August to minus 2.1% in September.
FocusEconomics Consensus Forecast panelists expect industrial output to contract 0.5% in 2013, which is down 0.2 percentage points from last month's forecast. For 2014, panelists expect industrial output to rebound and expand 3.6%, which is up 0.2 percentage points from last month's estimate.
Author: Ricardo Aceves, Senior Economist