Financial News: Czech Industrial Output Growth Improves; Trade Surplus Ris

Czech Industrial Output Growth Improves; Trade Surplus Rises

(RTTNews) - The Czech Republic's industrial production expanded at the fastest pace in nearly two-and-a-half years, while the trade surplus increased in May from last year, separate reports from the Czech Statistical Office revealed on Monday.

Industrial production climbed a working-day-adjusted 2.2 percent year-on-year in May, faster than the 2.0 percent rise in April.

Moreover, this was the strongest growth since December 2022, when production had risen 4.4 percent.

Among sectors, output produced in the utility sector surged 10.9 percent annually in May, and manufacturing output was 1.5 percent higher. On the other hand, mining and quarrying output declined by 1.5 percent.

On a monthly basis, industrial output dropped 1.6 percent.

Construction output advanced 11.6 percent annually and by 2.3 monthly in May.

In a separate report, the Czech Statistical Office said the trade surplus of the country rose to CZK 13.3 billion in May from CZK 11.1 billion in the corresponding month last year.

In April, the trade balance showed a surplus of CZK 21.2 billion.

Exports climbed 2.0 percent year-on-year in May, and imports rose by 1.5 percent.

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