Czech Republic: Industrial activity deteriorates at quicker clip in October
Latest reading: Industrial production slid 0.7% month on month in seasonally adjusted terms in October (September: -0.5% mom). Looking at the details of the release, October’s steeper downturn largely reflected both electricity, gas, steam and air conditioning supply plus mining and quarrying production swinging to contractions. More positively, manufacturing output contracted at a softer rate.
On an annual basis, factory output dropped 2.1% in calendar-adjusted terms in October, contrasting September’s 1.7% expansion. Accordingly, the trend pointed down, with the annual average variation of industrial production coming in at minus 1.2%, down from September’s minus 0.9% reading.