Tuesday, a report by the Czech Statistical Office said industrial output dropped 17% year-on-year in March, after a 23.4% fall in February. Economists expected a decline of 17.5%. Month-on-month, industrial output slipped a seasonally adjusted 0.2% in March.

On an annual basis, mining and quarrying output slipped 9.7% in March after a 14.8% decline in the previous month. Manufacturing output was down 19.5% compared to a 26.9% fall in February, while production of utilities fell 2% compared to a 1.7% drop in the previous month.

Sales in industry at current prices declined 14.2% annually in March compared to a 20.6% fall in the preceding month. New orders were down 16.5% year-on-year in March, after a 24.7% drop in February.

Meanwhile, construction output dipped 9.4% year-on-year, but grew a seasonally adjusted 0.1% month-on-month in March.

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