Czech Republic: Industrial productions strengthens in February
April 6, 2012
In February, industrial production expanded 4.7% over the same month last year, which was above the revised 3.1% increase tallied in January (previously reported: +3.2% year-on-year). The expansion was stronger than market analysts' expectations, who had anticipated industrial production would pick up to 3.5%, and was entirely the result of faster growth in manufacturing production. On a month-on-month seasonally adjusted basis, industrial output contracted 0.10% in February, which followed on a 0.75% decline in January. Despite the February improvement, the trend continues to point downwards, with annual average growth in industrial output falling from 5.9% in January to 5.3% in February. The Central Bank expects GDP growth to remain flat this year. For 2013, the Bank sees the economy expanding 1.9%.
Author: Ricardo Aceves, Senior Economist