Czech industrial production increased by 1.9% year on year and by 2.8% month on month in October. The October increase follows a 5% slump registered in September, which alarmed local analysts.
Decline of 6.5% y/y is second worst in EU.
Czech retail sales decreased by 1.4% year on year and increased by 0.6% month on month in October, in the softest monthly drop in a year and a half. The drop in sales eased compared to the 4% y/y drop in September and the 2.8% y/y drop in August.
GDP also up by 0.2% quarter-on-quarter as trade surplus makes up for lower domestic demand.
Czechia remains the only EU country not to have recovered its pre-pandemic level of output.
Hungary’s economy grew 0.9% quarter-on-quarter in the third quarter, after four consecutive months of contraction.
Czech manufacturing PMI data from S&P Global market intelligence company posted 43.2 in November.
Poland's Purchasing Managers' Index grew 4.5 points to 48.7 in November.
Analysts now expect the CPI to continue easing in the coming months but at a clearly slower rate.
Polish retail sales expanded 2.8% year on year in constant prices in October (chart), after falling 0.3% y/y the preceding month, the statistics office GUS said on November 22.
A rebound in real wages and relatively stable employment are great starting points for a recovery in household spending. Economic growth in 2024 may reach around 3% on the back of both private and public consumption.
Poland's producer price index (PPI) declined 4.1% year on year in October (chart), following a revised fall of 2.7% y/y the preceding month, the country’s statistics office GUS said on November 21.
Poland’s industrial production grew 1.6% year on year at constant prices in October (chart), after a revised fall of 3.3% y/y the preceding month, unadjusted data from the statistical office GUS showed on November 21.
EU regions with the steepest population loss were all in Bulgaria, led by Vidin with a loss of 25.7 per 1,000 people.
The CPI index remains above the National Bank of Poland’s target of 1.5%-3.5% but appears on track to near the target next year.
Overall industrial output fell by 5.8% when adjusted for the number of workdays.
Stronger than expected rise marks the end of a technical recession that has lasted a year.
On a monthly basis, consumer prices edged 0.1% lower.
Businesses are increasingly concerned over geopolitical and economic risks to the global economy, according to Oxford Economics’ latest Global Risk Survey released on November 6.
Analysts quoted by Czech Television (CT) sounded alarm bells, pointing out that a disruption in supply chains in the car industry caused by damaging August floods in Slovenia quickened the September decline of Czech industry.