Financial News: Czech Industrial Output Falls Further, Trade Surplus Grows

Czech Industrial Output Falls Further, Trade Surplus Grows Sharply

06/06/2024 - 09:01:00 (RTTNews)

(RTTNews) - The Czech Republic's industrial output decreased for the second straight month in April, data from the Czech Statistical Office revealed on Thursday.

Separate data showed that the foreign trade surplus grew sharply in April from a year ago as exports grew faster than imports.

Industrial production declined a working-day-adjusted 0.4 percent year-on-year in April, slower than the 2.9 percent increase in March. Economists had expected a flat change for the month.

Among sectors, utility sector output contracted the most by 10.1 percent annually in April, followed by mining and quarrying output by 8.6 percent. Meanwhile, output produced in the manufacturing sector advanced by 0.7 percent.

Data showed that construction output decreased 0.3 percent from last year versus an 8.3 percent recovery a month ago.

On a monthly basis, industrial output increased by 0.6 percent in April.

In a separate report, the Czech Statistical Office said the trade surplus of the country rose to CZK 33.1 billion in April from CZK 9.0 billion in the corresponding month last year.

In March, the trade balance showed a surplus of CZK 41.1 billion.

Exports logged an annual growth of 19.7 percent in April, and imports were 13.1 percent higher.

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