Industrial production (August) Final figure: -8.4% y/y Preliminary figure: -8.1% y/y Final print is slightly worse than the preliminary release, but we can keep positive judgment. Seasonally adjusted industrial production posted an increase by 4.0 % compared to the previous months. This figure stems from re-stocking after stronger sales supported by car scrap subsidies. The key question is the strength of the demand after the end of those schemes. Thus, industrial figures can remain pretty volatile in months to come with improvement depending on the situation in Germany. Ifo figures will tell us more about the future of the Czech industry.