Czech and Hungarian industrial output grows more than expected
On Monday, the Czech industrial output surprised analysts by a 6.7% y/y rise in February, which markedly overcame market expectations. Compared to the previous month, industrial output grew 1.7 %. As before, automotives proved to be the strongest growth engine for the whole sector. A 20% rise of industrial new orders shows that the Czech economy has been recovering and we can anticipate promising readings to arrive also during following months. Construction results improved in February too. The annual rise of construction output amounted to 6.1 % and stood more than 1 percentage point above its January level. However, the good result was more owing to favourable weather conditions than a change in trend. The number of new construction permits has been still decreasing and the same holds for the number of final inspections in newly built flats.
Read the full report: FX Daily
KBC