Relatively small fall in industrial output in June seen as good sign for economy

01-08-2009

Czech industrial output in June fell by 12.3 percent compared to the same month last year, according to preliminary data released by the Czech Statistical Office. That is being seen as relatively good news as it represents the smallest drop in the last six months: in January industrial output fell by 23 percent, while in May it decreased by 22 percent, year-on-year. Analyst Jiří Škop told the Czech News Agency that June’s results were a very pleasant surprise. He said the Czech economy, which relies heavily on the auto industry, was benefiting from car scrapping incentives introduced in export markets. Meanwhile, the president of the Czech Chamber of Commerce, Petr Kužel, said Czech firms probably had the worst of the financial crisis behind them.