Czech industrial production snaps two months of rises, falls unexpectedly in October

Czech industrial production missed forecasts for a rise, declined unexpectedly in October after rising in the previous two months. Data released by Czech Statistical Office on Wednesday showed that Czech Republic industrial production fell 1.7 percent year-over-year in October, reversing most of the gains in September.

Data widely missed economists' expectation for a 0.5 percent climb for the month and compared to a 2.7 percent climb in September. Production in the manufacturing sector fell 1.6 percent annually, while mining and quarrying output plunged by 11.6 percent.

Separate data showed that Czech construction output declined 8.5 percent yearly in October, which was worse than the 7.7 percent fall in the prior month. Construction output dipped 1.5 percent month-on-month.

The average registered number of employees in construction enterprises with over 50 employees fell by 3.2 percent y-o-y in October. Their average gross monthly nominal wage increased by 0.1 percent compared year-on-year, and reached CZK 32 893.

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