Growth in Czech industrial production slowed in October to 1.7 percent year-on-year from September’s 2.5 percent, the Czech Statistical Office (ČSÚ) announced on Wednesday. The monthly upturn in manufacturing production was unchanged at 0.1 percent, it said.
The Czech industrial stalwart, production of cars and other vehicles, was the main factor in the ongoing production advance with a 16.6 percent rise y/y. The Czech Republic hosts plants of three major producers, including the biggest Škoda Auto, part of the Volkswagen Group. There were smaller output rises in production of metal products and electrical equipment.
Computer, electronics hit
For the second month in a row there was a deep drop in production of computer, electronic and optical equipment, down 17.2 percent y/y in October following a 17.8 percent fall in September.
The value of new orders was up 2.1 percent thanks to a 8.4 percent increase in foreign orders while domestic demand decreased by 7.8 percent.
The number of employees in industrial firms employing more than 50 rose by 1.9 percent compared with October 2010 with wages up 3.1 percent, the statistical office added.
Survey results from the start of the month indicating business confidence, the HBSC’s Purchasing Managers’ Index (PMI) for November, suggested a deterioration in business conditions for the first time since October 2009.
