Czech industrial output fell at the fastest pace in more than three years in December, curbed by fewer working days, as the central bank decides whether to ease monetary policy.
Production decreased 12.5 percent from a year earlier, compared with a 3.9 percent decline in November, the Czech Statistics Office in Prague said in a statement on its website today. The result was worse than the median forecast for an 11 percent drop in a Bloomberg survey of 11 analysts. Output fell 5.8 percent from a year earlier when adjusted for the impact of working days, the statistics office said.
The central bank will probably leave the benchmark interest rate at effectively zero at a meeting today as policy makers discuss whether the country’s economic recession warrants more monetary easing through koruna sales.