Business News
Czech industrial production continues to slip, construction up
Jun 11, 2009, 11:02 GMT
Prague - Czech industrial output continued to slip in April, while construction picked up for the first time in six months, government data showed Thursday.
Annual industrial output was down 22.1 per cent in April primarily owing to a drop in automotive production, compared to a revised drop of 12.2 per cent the previous month, the Czech Statistical Office said.
Month-on-month industrial production fell by a seasonally-adjusted 1.4 per cent, according to the statistics office.
However, construction picked up in April by a real 2.1 per cent year-on-year, compared to a revised drop of 9 per cent in March.
The construction output was up by a seasonally-adjusted 5.2 per cent month-on-month, the statisticians said.
The Czech Republic was largely bypassed by the global financial crisis but falling demand from foreign markets, chiefly the 16 countries using the euro, has been hurting the export-reliant economy.
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