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Czech Feb. Industrial Output Growth Picks Up

Czech industrial production grew at a faster pace of 4.7 percent year-on-year in February, the Czech Statistical Office said Friday. That follows a 3.1 percent rise in January. Economists were expecting output growth to slow to 3 percent.

In February, working-day adjusted industrial production rose 0.3 percent from the previous year. The value of new orders increased by 10.5 percent.

Meanwhile, on a monthly comparison, output was down by a seasonally adjusted 0.1 percent.

In a separate communique, the statistical office said construction output declined sharply by 16 percent in real terms from a year ago. If seasonally adjusted, it was lower by 17.2 percent.

From the beginning of the year till the end of February 2012, the construction output plummeted by 38.4 percent compared to the same period of 2008, the year of boom.

by RTTNews Staff Writer

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