TNBiz (TNBiz)
Macroeconomics  |  June 02, 2012 09:14:54

Industrial production of the Czech Republic in April rose by 1.3 percent, says analysts


PRAGUE (MEDIAFAX) - Czech Statistical Office (CSO) on Wednesday April publish data on industrial production in the Czech Republic. Analysts polled by Bloomberg estimated that industrial production rose in April, the CR by 1.3 percent in March fell by 0.7 percent.

"In manufacturing, we expect an annual increase of 0.5 percent. But this time the game entered this year's calendar variations and April had the same number of working days as April last year. Behind this stagnation is almost gradual worsening economic situation in Europe, "said the agency Mediafax chief economist at Patria Finance analyst David Marek. According to him, remains the last positive point in this area, the automotive industry."Other important pillars of Czech industry, such as foundries and electronics are already fully affected by the recession in Western Europe in the coming months so we can expect results with a negative sign," concluded Mark.

"Industrial production is likely to return in April, after the March decline, the annual growth. In March, a drop of one percent due to the unequal number of working days, and if we exclude this effect, industrial production grew by 1.8 percent. The problem of unequal number of working days in April, falling down, "said analyst Peter GE Money Bank Gapko. According to his predictions would be in April year on year growth rate of industry around one percent, compared with the refined data for March slowdown that has already been indicated by the April PMI worse.

According to the forecast CSOB analyst Petr Dufek CR industrial production in April rose by 2.5 percent.

Industrial production in March fell year on year in real terms by 0.7 percent, was the first decline since November 2009. Result influenced by unequal number of working days since March 2012 was compared to the same month the previous year less one day. After adjusting for the number of working days, output increased by 1.8 percent. After seasonal adjustment (including the number of working days) industrial production increased by 0.3 percent.

The annual decline in industrial production was most contributed to the production of computer, electronic and optical equipment (contribution -0.5 pp, drop by 14.7%).On the contrary, the most significant industrial production increased in the segment of motor vehicles, trailers and semi-trailers (by +2.2 percentage points, an increase of 11.0%).

Jan Soukup, soukupj@mediafax.cz

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