Analysts: Weakening automotive pulls down entire industry

(CIANEWS) - The industry's performance is being dragged down mainly by the automotive industry, which is still struggling with a shortage of components for final production and is therefore forced to slow down its production, Banka CREDITAS' chief economist Petr Dufek commented on the Czech Statistical Office's data. UniCredit Bank Czech Republic and Slovakia's economist Patrik Rožumberský pointed out that the leading figures, including new orders, indicate a further decline in production in the coming months. Komerční banka's economist Jana Steckerová said that the further development of industrial production will be affected by the escalation of the conflict in Ukraine. She added that, given the interruption of some supplies to industry from this region, an even more pronounced decline in Czech industry can be expected in March.



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