Monday, May 12, 2008

Czech Industrial Output March 2008

Industrial output data for March showed the first drop after 5-1/2 years of growth, adding to previous poor purchasing managers index (PMI) and foreign trade figures.
Output fell 2.1 percent year-on-year in March, far worse than a 4.8 rise forecast by analysts and in stark contrast to an 11.3 percent rise the previous month.
The Czech data mirrored March results elsewhere in emerging Europe. In Slovakia, the region's growth leader, output slammed on the brakes to grow just 1.8 percent.
Part of the drop could be attributed to the Easter holiday, which came earlier than usual this year.

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