Czech industry continued to grow in November

The results corresponded to the Confederation of Industry´s expectations.

The working day adjusted industrial production in the Czech Republic rose 3,2 percent in a year-over-year comparison in November 2015. It fully complies with the Confederation of Industry´s expectations, its Economic Affaires director Bohuslav Čížek pointed out.

The Confederation doesn´t expect any negative surprise neither in December. It was confirmed both by the statistics indicators and the contracts´development in November whose value rose interannually 7,2 percent. From the point of view of the industrial production´s volume, 2015 could be regarded as a record year.

„The automobile industry remained the growth´s driving force,“ Čížek stressed. „The rubber and plastic products´production rose as well as the manufacture of fabricated metal products. On the contrary, the production of chemical substances and preparations and the production and distribution of electricity, gas and heat declined a little.“

The low oil prices, high volume of foreign contracts and better mood in the economy are among the key factors influencing positively the industry´s good results. The production as well as the contracts´volume are growing and regardless of some less positive economic news of the last days, we don´t see any reason to pesimism, Čížek added.

Czech companies are awaiting that the investment, contracts and employment will rise further. It was confirmed by the Confederation´s market investigation carried out together with the Czech National Bank at the end of 2015.

The economic recovery will continue regardless of the geopolitical problems, lower growth tempo in some developing countries and the resulting developments on the financial markets or weaker than expected results of the industry in the United States or Germany. Its tempo will be nevertheless slower than in 2015.