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Financial News: Czech Industrial Production Falls In March

Czech Industrial Production Falls In March

05/07/2020 - 09:06:00 (RTTNews)

(RTTNews) - The Czech Republic's industrial production declined at a faster pace in March, figures from the Czech Statistical Office showed on Thursday.

Industrial production fell 10.8 percent year-on-year in March, following a 0.9 percent decline in February. Economists had expected a 14.2 percent fall.

Manufacturing output decreased 11.2 percent annually in March.

Among industrial segments, manufacture of automobiles and production of machinery and equipment logged massive double-digit declines.

Mining and quarrying output fell 15.4 percent and production of electricity, gas, steam and air conditioning declined 5.8 percent.

On a month-on-month basis, industrial production decreased a seasonally adjusted 8.7 percent in March.

Separate data from the statistical office showed that the trade surplus decreased to CZK 3.07 billion in March from CZK 15.66 billion in the same month a year ago. Economists had expected a surplus of CZK 13.0 billion.

In February, the trade surplus was CZK 20.76 billion.

Exports declined 13.3 percent annually in March and imports fell 9.9 percent.

On a month-on-month basis, seasonally adjusted exports decreased 21.1 percent in March and imports fell 8.6 percent.

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