The Czech Republic’s industrial production displayed modest growth in February, marking a 1.5% increase year-on-year and a 1.7% rise compared to January. However, the value of new orders experienced a slight decline of 1.3% compared to the previous year.

According to Radek Matějka from the Czech Statistical Office, the February uptick was primarily attributed to a low comparative base from last year’s February in electricity and gas production, which was affected by weather conditions. The manufacturing industry remained flat year-on-year.

Several sectors contributed positively to the growth, including the food industry, machinery and equipment manufacturing, and electrical equipment production. However, the computer, electronic, and optical equipment manufacturing sector recorded a decline.

While new orders from abroad showed a slight decrease and domestic orders fell by 3.1%, there was a silver lining in the month-over-month comparison, with overall new orders rising by three percent.

The automotive industry experienced a mild downturn, and the manufacturing of other transport equipment saw decreased orders due to a high comparative base. However, machinery and equipment manufacturing has been showing consistent growth for three consecutive months, driven by contracts across various subsectors.

Source: CzechDaily

Prepared by the team of foreign offices CzechTrade Osaka and Tokyo