Czech Republic: Industrial production contracts again in January
Industrial production tumbled 1.1% year-on-year in January, following December’s sharper 1.5% drop. There were the same number of working days in January than in the same month last year. January’s dip 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 fell for the sixth consecutive month in January. Meanwhile, the electricity, gas, steam and air conditioning sector posted stronger output gains compared to the previous month.
In seasonally-adjusted month-on-month terms, industrial output 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.