Prague - The Czech Republic's industrial production grew by 2.1 percent year-on-year in July after decreasing by 5.3 percent in June. However, after adjusting for working days, industrial production dropped 2.8 percent in July.
"After June's floods, industrial production in July increased by 2.1 percent and was the highest since October 2012. This increase is mostly in line with market expectations," said Raiffeisenbank economist Helena Horska.
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After seasonally adjusting the data, industrial production increased month-on-month by 0.4 percent in July, said the Czech Statistical Office (CSU).
Construction sector no longer in free fall
In the same month, the construction sector stopped its free fall. Czech construction activity increased by 0.2 percent in July compared to the same month last year. In June, the sector shrank by 11.1 percent, said the CSU.
Seasonally adjusted construction activity increased by 4.8 percent from June to July this year.
Authorities issued 11.5 percent less construction permits in July compared to last year, and the total value of these permits decreased by 14.3 percent.
The number of apartments completed in July was 22.7 percent lower than in the same month in 2012, but 12.6 percent more homes were started.
Construction activity in the first half of 2013 was 30.2 percent lower than in the same period in 2008, before the outbreak of the global crisis, said the CSU.
Salaries in car industry increase
The average salary in the Czech automotive sector increased by 2.6 percent to CZK 31,778 (EUR 1,230) in the first half of 2013, in spite of the sector's financial troubles. This salary is almost 30 percent higher than the Czech average salary, said the Czech Automotive Industry Association (SAP).
