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Financial News: Czech Industrial Production Declines; Trade Surplus Increa

Czech Industrial Production Declines; Trade Surplus Increases

04/08/2021 - 04:00:00 (RTTNews)

(RTTNews) - The Czech Republic's industrial production and construction output decreased in February, data from the Czech Statistical Office showed on Thursday.

Separate data showed that the trade surplus increased in February as exports rose and imports increased.

Industrial production decreased a working-day adjusted 2.6 percent year-on-year in February, after a 0.3 percent rise in January. Economists had forecast a 0.5 percent growth.

Manufacturing output fell 3.1 percent yearly in February.

Mining and quarrying output decreased 2.9 percent, while electricity, gas, steam and air conditioning rose 1.5 percent.

On a monthly basis, industrial production fell a seasonally adjusted 2.0 percent in February.

Industrial new orders increased 6.7 percent year-on-year in February.

Construction output decreased a working-day adjusted 11.0 percent annually in February.

On a seasonally adjusted basis, the construction output declined 3.0 percent monthly in February.

Another report from the Czech statistical office showed that the trade surplus rose to CZK 22.496 billion in February from CZK 20.267 billion in the same month last year. Economists had forecast a surplus of CZK 25.0 billion.

In January, the trade surplus was CZK 25.736 billion.

Exports rose 3.8 percent annually in February and imports grew 3.3 percent.

On a monthly basis, seasonally adjusted exports decreased 0.8 percent in February and imports increased by 0.4 percent.

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