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UPDATE 1-Czech Aug industrial output rises, markets expected drop
October 7, 2013 / 7:36 AM / 4 years ago

UPDATE 1-Czech Aug industrial output rises, markets expected drop

(adds details, quote)
    PRAGUE, Oct 7 (Reuters) - Czech industrial output rose by
1.6 percent year-on-year in August driven by a jump in car
production and beating expectations for a decline, data from the
Statistics Bureau (CSU) showed on Monday.
    Analysts said the figures indicated a recovery from a
record-long recession was gaining momentum.
    Production of vehicles rose by 26.1 percent year on year.
New orders in the car sector jumped by 42.2 percent year on
year, contributing the most to the overall 12.3 percent increase
in new orders.
    The rise in car production was helped by a lower base effect
due to a summer break at Volkswagen's Skoda Auto
plants coming in July this year, rather than August like last
year.
    Analysts polled by Reuters had expected industrial output to
fall by 1.3 percent in August  .
    "It is not only car manufacturing... but on an adjusted
basis the growth is in other sectors," said Pavel Sobisek, chief
economist at UniCredit Bank in Prague.  
    "It is another sign the economy is gaining momentum and that
GDP growth in the second quarter is sustainable." 
    Seasonally adjusted, industrial output rose by 4.7 percent
from July.
    Also on Monday, data showed construction output fell by 8.1
percent year-on-year.
    
INDUSTRIAL OUTPUT      08/13      07/13      08/12     01-08/13 
 Real pct change y/y    1.6        2.1       -1.2       -2.6  
 Industrial sales       4.8        3.7        0.6       -1.2  
 New orders            12.3        9.0        0.1       -0.5  
  from abroad          15.6       10.2        1.6        0.1  
CONSTRUCTION OUTPUT   
 real pct change y/y   -8.1        0.2       -5.0      -10.5
    
    NOTE. All data are subject to further revision. 
 

 (Reporting by Mirka Krufova and Jason Hovet; Editing by Jana
Mlcochova)

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