Industrial production

Average for 2024

Industrial production

(annual values, % yoy)
CBA Commentary
Industrial production has shown weak output growth since the end of 2018. \Based on August 2025 data, industrial production this year was 0.1% above the pre-2019 level, compared with -1% last year. In the case of manufacturing, output is at 102.4% of its 2019 level (102% last year), and in the case of automotive, 117.4% (after 118% last year).
In August 2025, industrial production fell 1.4% y/y (seasonally adjusted), and year-to-date growth this year is 0.7%, compared with -1% in the same period last year. These year-on-year changes amounted to -1.9% y/y in manufacturing in August and 0.2% so far in 2025 (after -0.9% in the same period last year), while the automotive industry posted a 2.9% y/y decline in August this year and has averaged -0.2% so far this year after -1.7% last year.
Source of primary data
CZSO
Note
Yearly average in history and ytd average in current year,
data adjusted for seasonality and different number of working days,
automotive industry - NACE/NACE 29.
Category
Economics
Data frequency
annual
Comments
August retail and construction sectors kept the economy growing
Comment by Jaromír Šindel, Chief Economist of the CBA: The continuation of the construction boom and the recovery in retail sales in August was dampened by the return of weaker industrial production, despite stronger exports. However, the positive sentiment in September suggests that the slowdown in GDP growth in Q3 may not be as pronounced as the July and August figures suggest.
Weak July industrial and services recovery hinders continuation of solid GDP growth
Economic commentary by Jaromír Šindel, Chief Economist of the CBA: Although the economy breathed a half-percent growth in the second quarter, the July figures were rather disappointing and suggest a cooling. However, the Czech economy is generating upside risks to inflation, which limits the room for manoeuvre of the CNB, which is likely to stick to the CNB's 3.5% terminal interest rate thesis. August's registered unemployment confirmed a worse trend, which, however, is not confirmed by other data.
Highest unemployment in eight years does not dampen hawkish core inflation due to solid economic growth
Economic commentary by Jaromir Šindel, Chief Economist of the CBA
Strong March economic data spoils weaker industrial payrolls and gives way to surprising growth structure
Economic commentary by Jaromir Šindel, Chief Economist of the CBA
Worse April sentiment does not bring immediate relief for the CNB
Economic commentary by Jaromir Šindel, Chief Economist of the CBA