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Czech Republic industrial production contracts again in January

Staff Writer | March 18, 2019
Industrial production in Czech Republictumbled 1.1% year-on-year in January, following December’s sharper 1.5% drop.
Czech Republic
Europe   January’s dip partly reflected a high base effect
There were the same number of working days in Czech Republic in January than in the same month last year.

January’s dip in Czech Republic partly reflected a high base effect and was mostly driven by a marked contraction in manufacturing output, particularly in the production of motor vehicles, trailers and semi-trailers.

Similarly, output in the mining and quarrying sector in Czech Republic fell for the sixth consecutive month in January.

Meanwhile, the electricity, gas, steam and air conditioning sector in Czech Republic posted stronger output gains compared to the previous month.

In seasonally-adjusted month-on-month terms, industrial output in Czech Republic declined 1.3% in January, following the 1.0% fall recorded in December.

Meanwhile, annual average growth in industrial production slid from 3.3% in December to 2.7% in January.

FocusEconomics Consensus Forecast panelists expect industrial output to expand 2.8% in 2019, which is down 0.3 percentage points from last month’s forecast, and 2.8% in 2020.