FX.co ★ Czech Industrial Output Falls 2.7% In November

In November, the Czech Republic experienced a decline in industrial production for the second consecutive month, according to data released by the Czech Statistical Office on Thursday. The primary factor behind this decrease was a contraction within the manufacturing sector.

Year-on-year, industrial production experienced a decline of 2.7% in November, adjusting for working days, following a 2.1% drop in October. The contraction was predominantly influenced by a 3.1% reduction in manufacturing output. Additionally, the growth in the mining and quarrying sector slowed to 1.9%, down from 5.2% in October. Conversely, there was a slight rebound in the utility sector, which saw a 0.7% increase in output.

However, on a month-to-month basis, industrial output saw an improvement, expanding by 1.7% in November.

In contrast, separate data indicated a recovery in construction output, which grew by 2.5% year-on-year in November, compared to a 3.6% decline in October. Month-over-month, construction production increased by 1.8%.