Czech Nov industrial output rises at fastest rate in three months.

By bne IntelliNews January 9, 2012
Czech industrial output in November 2011 rose at its fastest rate in three months and was above analyst expectations thanks to strong growth in the car sector, data from the statistics office showed. Industrial production grew by 5.4% in November, speeding up from a 1.7% rise in October. Analysts polled by Reuters were expecting a 0.8% hike. Output, adjusted for seasonal factors, rose by 2.7% m/m. Motor vehicles remained the main growth driver, expanding by 17.7% y/y in November, slightly faster than the 16.6% rise in the previous month. The second biggest contributor was the production of machinery and equipment registering an annual growth of 12.9%. The steepest decline of 21.8% was registered in the production of computer, electronic and optical products. Sales in current prices increased by 6.6% y/y in November, more than two times higher than Octobers growth of 2.6%. New industrial orders advanced 4%, their highest growth in five months, following a 2.1% hike in October. Growth in the value of foreign orders speeded up to 10.4% y/y in November from 8.4% a month earlier. Domestic orders continued to decline although at a slower rate of 6.8% compared to a 7.8% decrease in October. The number of industry employees rose by 1.7 y/y and the average monthly wage moved up 2.2% y/y to CZK 29,501. IntelliNews comment : The stronger-than-expected industrial output growth is mainly attributed to the cumulative completion of orders with a longer production cycle in machinery. Foreign orders, the main driver of the industry, again started to accelerate growth, after slowing in most of the previous months. Domestic orders, on the other hand, are not expected to recover soon, as the government austerity measures will continue to weigh on consumption.

Czech Nov industrial output rises at fastest rate in three months.

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