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Financial News: Czech Industrial Production Growth At 15-Month High; Trade

Czech Industrial Production Growth At 15-Month High; Trade Gap Narrows

11/07/2022 - 09:03:00 (RTTNews)

(RTTNews) - The Czech Republic's industrial production expanded at the fastest pace in more than one year in September, data from the Czech Statistical Office revealed on Friday.

Separate data showed that the foreign trade deficit narrowed in September, as exports grew faster than imports.

Industrial production climbed a working-day adjusted 8.3 percent year-on-year in September, faster than the 7.2 percent rise in August.

Further, this was the strongest rate of growth since June 2021, when production had risen 11.4 percent.

Among sectors, manufacturing output advanced 9.4 percent yearly in September and mining and quarrying production rose 1.8 percent.

Meanwhile, electricity, gas, steam and air conditioning output showed a negative growth of 0.7 percent.

On a monthly basis, industrial production dropped a seasonally adjusted 0.2 percent in September.

Data also showed that construction output decreased 3.7 percent yearly and by 1.7 percent monthly in September.

In a separate communiqué, the Czech Statistical Office said the trade deficit narrowed to CZK 13.9 billion in September from CZK 16.5 billion in the corresponding month last year.

In August, there was a shortfall of CZK 29.68 billion.

Exports logged a double-digit annual growth of 25.8 percent annually in September, and imports were 23.8 percent higher.

On a monthly basis, both exports and imports rose by a seasonally adjusted 0.9 percent and 1.3 percent, respectively.

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