The Czech industry‘s condition improved in January

In the opinion of the Confederation of Industry’s analyst Bohuslav Čížek, the Czech industry's results build on the positive trend change registered in the second half of the last year. They confirmed the essential importance the industry has for the Czech economy, both from the point of view of its share and its contribution to the economic recovery.

„We could confirm that the Czech industry and especially its foreign contracts showed a very good dynamics for at least several months,“ Čížek stressed.  „In the last quarter of 2013, the gross added value of the industry, which is the key sector of the Czech economy, rose 2,9 percent from a year earlier. Only the financial and insurance sectors achieved better results than the industry.“

The industry’s share of value added is several fold greater than in other sectors of the Czech economy and its contribution to the year-on-year GDP development could be viewed as the most important of all in the last quarter of 2013.

The increasing number of orders, especially from abroad, shows that the industrial production will grow in the next months and that it will belong to the positive factors of the Czech economy development. In January, the domestic orders decreased 1,3 pecent, the foreign ones rose 13,9 percent year-on-year.

Nevertheless, the results of the Czech industry aren’t yet so impressive that they could facilitate a faster and more stable growth based, for example, on investments.

The car production remains the primary source of growth in the manufacturing sector.

In January 2014, the Czech industrial production rose 5,5 percent, the construction industry 5 percent and the retail sales 6,5 percent year-on-year.