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Financial News: Czech Industrial Production Declines More Than Forecast

Czech Industrial Production Declines More Than Forecast

06/07/2017 - 05:58:00 (RTTNews)

(RTTNews) - Czech industrial production decreased at a faster-than-expected rate in April, the Czech Statistical Office reported Wednesday.

Industrial production fell an unadjusted 2.5 percent year-over-year in April, reversing a 10.2 percent spike in March. Economists had expected a 1.0 percent drop for the month.

It was the first decline in six months.

Output in the utility sector expanded 9.6 percent, while manufacturing production contracted by 4.0 percent.

On a working-day-adjusted basis, industrial production advanced 5.9 percent in April from a year ago.

Monthly, industrial production increased a seasonally adjusted 0.6 percent in April.

Another report from the statistical office showed that construction output grew an unadjusted 4.0 percent yearly in April, slower than the 7.1 percent gain in the prior month. Working-day adjusted output rose 9.6 percent in real terms.

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