Year-on-year growth of the Czech industry in September was 4.9%, which is a positive change from a 3.8% decrease in August. It was driven mainly by the automotive industry and electronics, whereas machine and computer manufacturing recorded a drop in the same period. Czech industry is, in general, showcasing slight annual growth and gradually slowing down. Czech economy and its industry are inevitably slowing down following the lead of Germany and other European countries. Nevertheless, relatively low wages and highly-skilled workforce give this small Central-European country a slight competitive edge and a sufficient number of orders even in times of adversity.
Prepared by the team of foreign team CzechTrade San Francisco