Czech Republic: Industrial production remained robust in December
February 7, 2011
In December, industrial production expanded 12.7% over the same month the prior year. The December expansion represented a deceleration over the 15.9% increase observed in November and undershot market expectations of a 14.0% rise. The deceleration mainly reflected slower growth in manufacturing, which accounts for the bulk of industrial production (November: +17.2% year-on-year; December: +14.0% yoy). In addition, mining and quarrying decelerated sharply from a 23.5% expansion in November to a 10.0% increase in December. In contrast, electricity, gas, steam and air conditioning supply accelerated over November. A month-on-month comparison confirms the slowdown suggested by the annual data, as industrial production fell a seasonally adjusted 0.89% in December, contrasting the 1.95% increase registered in November. For the full year 2010, industrial output expanded 10.5%, which contrasted the 13.6% contraction in 2009.
Author: Ricardo Aceves, Senior Economist