Financial News: Czech Industrial Output Declines, Trade Surplus Shrinks

Czech Industrial Output Declines, Trade Surplus Shrinks

(RTTNews) - The Czech Republic's industrial production logged a renewed decline in August, while the trade surplus decreased from last year as exports fell faster than imports, separate reports from the Czech Statistical Office revealed on Tuesday.

Industrial production rose a working-day-adjusted 1.3 percent year-on-year in August, reversing a 1.8 percent rise in July. Moreover, this was the firts decline in seven months.

The downturn in August was mainly driven by a 12.6 percent slump in mining and quarrying output. Manufacturing production also contracted 1.7 percent, while the utility sector segment advanced 5.8 percent.

On a monthly basis, industrial output dropped 1.1 percent.

Construction output advanced 17.1 percent annually and by 2.3 monthly in August.

In a separate report, the Czech Statistical Office said the trade surplus of the country decreased to CZK 5.6 billion in August from CZK 11.3 billion in the corresponding month last year. In July, the trade balance showed a deficit of CZK 627 million.

Exports declined 5.7 percent year-on-year in August, and imports rose at a comparatively slower pace by 4.3 percent.

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