Czech industrial production growth likely to have eased in March

Czech industrial production data for the month of March is set to release this week. The PMIs show that each month the developments in the nation’s largest industry are steadily falling because of soft foreign purchase orders. So far, the hard numbers have not seemed too bad, however, the loss of momentum is obvious in the manufacturing industry in particular.

According to a KBC Market Research report, the industrial production growth is likely to have eased to 0.7 percent year-on-year from prior month’s 1.5 percent growth. Softer results are to be anticipated especially in the automotive production industry, which dropped 3.8 percent in the first quarter. Hence, the first quarter would be a softer period from the point to view of the industry and will undoubtedly also add to the overall result of the entire economy, which has so far advanced from favourable development of the industry, added KBC Market Research.