Tuesday, December 11, 2007

Czech Industrial Output October 2007

Czech industrial output grew at an 8.4% rate year-on-year in October, up from 1.2% in September and beating market expectations of 6.0%, mainly due to higher car and electronics production, data released this week by the Czech statistical office (CSU) showed. The figure confirmed consensus expectations for a small rebound in industry after lower-than-expected growth in the previous two months.

Car production jumped 20.3 pct in October, while electronics production grew 15.3 pct. The stats office also said the value of new industrial orders grew 20.5 pct year-on-year, with the bulk of orders coming from foreign buyers.

October construction output also grew 3.5 pct year-on-year, versus a 1.8 pct contraction in September, data which was released separately showed. In addition the planning and building control authorities granted 11 217 building permits, which was down by 18.6% year-on-year. The approximate value of permitted constructions increased by 9.9% year-on-year and reached CZK 32.8 billion.

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