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09 Jul 2019, Petia Krasteva, EMIS Editor

Czech industrial output rises by 3.2% y/y in May

Czech industry managed to keep pace and industrial output rose by 3.2% y/y in May after 3.0% surge in April, bne Intellinews reported citing fresh data by the local statistical office. New orders data were also positive as the latter increased by 4.1% y/y, with non-domestic and domestic new orders up by 3.9% y/y and 4.3% y/y, respectively.

The key car manufacturing sector saw a 6.3% increase in new orders in May. The latest industry data came to a surprise to the market which expected the downturn in the Czech Republic’s main trade partner, Germany, to already affect local manufacturers.

Nevertheless, the analysts approached by bne Intellinews believe the slowdown seems imminent given that the June PMI survey showed the index plunged to its lowest level in the last 10 years due to weak external demand.

Sign in and read the full article in emis.com, and find out more about EMIS. Original source: bne Intellinews