Commentary of Jan Linhart, Partner of KPMG Česká republika on the CSO results of Industry
6.11.2012Company: KPMG Česká republika, s.r.o.
The problems of the euro area are fully reflected in the resulst of industrial production. From the perspective of the Czech economy the bad news is that the automotive industry, which is the most important industry of our country, is declining.
However, until recently we have been accustomed to seeing positive numbers. Unfortunately not only production itself is decreasing, but also the value of new orders. It seems, therefore, that it is not only seasonal wobble, but that we will see more of similar numbers in the coming months. But it is necessary to add that while in some European countries production has been declining double digit values for months, in the Czech Republic it is still only a beginning decline. Czech automotive industry to some extent follows the development in the German market, where last months show a decrease in demand for new cars.
Jan Linhart, Partner of KPMG Česká republika
