Czech industrial output falls unexpectedly in March 2012.

By bne IntelliNews May 11, 2012
Czech industrial production contracted by 0.7% y/y in March 2012, following an annual expansion of 4.7% in the previous month, data from the statistics office showed. Analysts polled by Reuters were expecting a 1.5% rise. The March fall was the first since November 2009 and the statistics office said the drop was due to the lower number of working days. Production adjusted for working days rose by 1.8% y/y and in monthly terms industrial output edged up by a seasonally-adjusted 0.3% in March. The production of computers, electronics and optical products contributed the most to the annual decline with the sector contracting by 14.7%, followed by basic metals with a 11.4% decrease and fabricated metal products with a 4.6% decrease. Motor vehicles remained the main growth driver, expanding by 11% y/y in March, following a 15.4% rise in February. Overall, production in the manufacturing industry edged 0.6% on the year in March, after growing by 4.6% y/y in February. The mining and quarrying industry continued to contract but at a much slower pace than in the previous month as it decreased by 0.1% compared to a 3% drop in February. Sales from industrial activity increased by 1.1% in March, much slower than Februarys growth of 9.4% y/y. New industrial orders fell by 1.1% y/y, after rising in the previous two months. Foreign orders decreased by 0.5% and domestic orders were 2% lower than a year ago. The number of industry employees rose by 0.3% y/y and the average monthly wage moved up 2.4% y/y to CZK 26,557 (EUR 1,052)in March 2012.

Czech industrial output falls unexpectedly in March 2012.

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