Czech industrial output drops in August

Czech industrial output drops in August

Published at: 2019-10-08 10:24 | Author: CIJEurope.com
Industrial production fell 3.8 percent in August, a disappointing result compared to July's 5.6 percent growth. When the data was adjusted for the amount of working days in the month, the year-on-year result was a decline of just 1.2 percent. Construction output was worse, falling 3.7 percent, compared to a 6.5 percent jump in July, though again when the fewer number of working days was figured in, the resul twas just a 2.4 percent drop. Industrial production was hurt by poor numbers among computer producers and electronic equipment, but automobile and pharmaceutical production rose. "The overall numbers in industry still contrast quite a a bit not only with developments in Germany but even with the long-term mood among domestic industrial companies. Nevertheless, we can't expect the same ambition from industry as we saw in the first half of the year. After all, some sectors aren't just going through a fall in production, but further reductions in orders so we have to count at the very leas on a mild slowing of the economy," CSOB analyst Petr Dufek told the Czech News Agency.

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