Financial News: Czech Industrial Output Growth Eases; Trade Gap Widens

Czech Industrial Output Growth Eases; Trade Gap Widens

(RTTNews) - The Czech Republic's industrial output growth moderated in July, while the country's trade deficit increased from last year, separate reports from the Czech Statistical Office revealed on Monday.

Industrial production climbed a working-day-adjusted 3.1 percent year-on-year in July, slower than the 3.8 percent increase in June, which was the quickest expansion in six months.

Among sectors, there was an 11.9 percent contraction in the mining and quarrying sector. Output produced in the utility sector advanced 10.8 percent annually, though slower than June's 25.1 percent surge. There was an 11.9 percent sharp contraction in the mining and quarrying sector.

Meanwhile, the annual growth in manufacturing production improved slightly to 2.6 percent from 2.5 percent.   

The trade shortfall widened to CZK 8.5 billion in July from CZK 3.5 billion in the corresponding month last year. In June, the trade balance showed a surplus of CZK 13.4 billion.

The rise in the trade gap was mainly due to the deepening of the trade deficit in computer, electronic, and optical products by CZK 6.7 billion.

Exports climbed 3.9 percent year-over-year in July, and imports were 5.2 percent higher.

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