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Financial News: Czech Industrial Production Decline Slows In September

Czech Industrial Production Decline Slows In September

11/06/2020 - 06:24:00 (RTTNews)

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

Industrial production declined a working-day adjusted 1.5 percent year-on-year in September, following a 5.5 percent fall in August. Economists had forecast a 3.9 percent decline.

Manufacturing output declined 0.5 percent yearly in September.

Mining and quarrying output decreased 19.6 percent and electricity, gas, steam and air conditioning fell 7.5 percent.

On a monthly basis, industrial production rose a seasonally adjusted 4.1 percent in September.

Industrial new orders increased 4.8 percent year-on-year in September.

In the third quarter, industrial production rose 22.6 percent quarterly and fell 3.9 percent yearly.

Separate data from the statistical office showed that the construction output decreased a working-day adjusted 8.2 percent annually in September.

On a seasonally adjusted basis, construction output rose 0.6 percent monthly in September.

In the third quarter, construction output fell 2.3 percent quarterly and fell 9.4 percent yearly.

Another report from the Czech statistical office showed that the trade surplus rose to CZK 34.433 billion in September from CZK 20.042 billion in the same month last year. Economists had forecast a surplus of CZK 18.0 billion.

In August, the trade surplus was CZK 8.954 billion.

Exports rose 2.2 percent annually in September and imports fell 2.3 percent.

On a monthly basis, seasonally adjusted exports and imports increased by 5.1 percent and 2.9 percent respectively, in September.

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