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Financial News: Czech Industrial Production Growth Slows; Trade Balance Sw

Czech Industrial Production Growth Slows; Trade Balance Swing To Surplus

07/07/2021 - 04:58:00 (RTTNews)

(RTTNews) - The Czech Republic's industrial production rose at a softer pace and construction output increased in May, data from the Czech Statistical Office showed on Wednesday.

Separate data showed that the trade balance swung to surplus in May, as exports rose and imports increased.

Industrial production grew a working-day adjusted 25.3 percent year-on-year in May, after a 55.1 percent rise in April. Economists had forecast a 32.7 percent growth.

Manufacturing output surged 29.2 percent yearly in May.

Meanwhile, mining and quarrying output decreased 0.3 percent, and electricity, gas, steam and air conditioning declined 2.2 percent.

On a monthly basis, industrial production rose a seasonally adjusted 3.6 percent in May.

Industrial new orders increased 46.5 percent year-on-year in May.

Construction output rose a working-day adjusted 5.8 percent annually in May.

On a seasonally adjusted basis, the construction output increased 3.0 percent monthly in May.

Another report from the Czech statistical office showed that the trade balance registered a surplus of CZK 6.347 billion in May versus a deficit of CZK 571 million in the same month last year. Economists had forecast a surplus of CZK 25.1 billion.

In April, the trade surplus was CZK 20.913 billion.

Exports rose 41.6 percent annually in May and imports grew 38.6 percent.

On a monthly basis, seasonally adjusted exports decreased 8.1 percent in May and imports fell by 4.1 percent.

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