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Financial News: Czech Industrial Production Decline Slows In July

Czech Industrial Production Decline Slows In July

09/07/2020 - 08:02:00 (RTTNews)

(RTTNews) - The Czech Republic's industrial production decreased at a softer pace in July, data from the Czech statistical office showed on Monday.

Industrial production declined a working-day adjusted 5.0 percent year-on-year in July, following a 10.5 percent fall in June. Economists had forecast a 7 percent decline.

Manufacturing output declined 5.0 percent yearly in July.

Mining and quarrying output decreased 25.4 percent, while electricity, gas, steam and air conditioning rose 0.4 percent.

On a monthly basis, industrial production rose a seasonally adjusted 5.7 percent in July.

Industrial new orders decreased 3.6 percent year-on-year in June.

Separate data from the statistical office showed that the construction output decreased a working-day adjusted 10.4 percent annually in July.

On a seasonally adjusted basis, construction output rose 0.8 percent monthly in July.

Another report from the Czech statistical office showed that the trade balance registered a surplus of CZK 13.418 billion in July versus a deficit of CZK 1.743 billion in the same month last year. Economists had forecast a surplus of CZK 2.8 billion.

In June, the trade surplus was CZK 35.219 billion.

Exports declined 1.1 percent annually in July and imports fell 6.2 percent.

On a monthly basis, seasonally adjusted exports and imports rose by 4.9 percent and 5.8 percent, respectively, in July.

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