Financial News: Czech Industrial Output Decline Softens; Trade Deficit Nar

Czech Industrial Output Decline Softens; Trade Deficit Narrows

(RTTNews) - The Czech Republic's industrial production decreased for the fifth straight month, though at a slower pace than in the previous two months, data from the Czech Statistical Office revealed on Friday.

Separate data showed that the foreign trade surplus decreased in July from a year ago as exports rose faster than imports.

Industrial production declined a working-day-adjusted 1.9 percent year-on-year in July, slower than the 3.3 percent drop in June.

Among sectors, mining and quarrying output contracted the most by 11.1 percent from last year, and manufacturing output dropped by 2.2 percent. Meanwhile, the positive contribution came from the utility sector, where production advanced by 2.7 percent.

On a monthly basis, industrial output shrank by 0.8 percent in July.

In a separate report, the Czech Statistical Office said the trade shortfall of the country fell to CZK 4.1 billion in July from CZK 6.2 billion in the corresponding month last year.

In June, the trade balance showed a surplus of CZK 30.7 billion.

In July, the total balance of international trade in goods was favorably influenced, in particular, by trade in electrical equipment, the agency said.

Exports logged an annual growth of 12.2 percent in July, and imports were 11.3 percent higher. Monthly, both exports and imports slid by 4.0 percent and 1.2 percent.

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