Czech industrial production down by 3.8% y/y in April

Czech industrial production down by 3.8% y/y in April
/ bne IntelliNews
By bne IntelliNews June 6, 2022

Czech industrial output declined by 3.8% year-on-year in April, the Czech Statistics Office reported. In monthly comparison, industrial production went down by 0.8%. Manufacture of motor vehicles contributed the most to the drop in output, mainly as a result of the lack of components.

“It was mainly a high comparison basis which was reflected by April results. A year ago, after covid restrictions ended, the whole industry was firing on all four cylinders, namely including car production,” said Radek Matejka, Director of the Agricultural and Forestry, Industrial, Construction, and Energy Statistics Department.

The value of new orders increased by 3.1% y/y, with non-domestic new orders going up by 2.4% y/y and domestic new orders by 4.6%. 

“In the y/y comparison, the value of new industrial orders decreased more considerably than the production, namely by 2%. The 3% y/y growth was again kept by economic activities, in which it is the growth of the value of orders that has a decisive influence, not their volume,” commented Veronika Dolezalova, Head of Industrial Statistics Unit.

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