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Financial News: Czech Industrial Production Unexpectedly Rises; Trade Bala

Czech Industrial Production Unexpectedly Rises; Trade Balance Logs Deficit

05/09/2022 - 06:08:00 (RTTNews)

(RTTNews) - The Czech industrial production grew unexpectedly in March, data from the Czech Statistical Office revealed on Monday.

Separate data showed that the trade balance swung to a deficit in March, as imports increased more than exports.

Industrial production increased a working-day adjusted 0.4 percent year-on-year in March, after a 0.3 percent drop in February. Economists had forecast a 2.6 percent decline.

Manufacturing output declined 0.2 percent yearly in March, while mining and quarrying output increased 6.9 percent.

Electricity, gas, steam and air conditioning output grew 4.2 percent.

On a monthly basis, industrial production rose a seasonally adjusted 2.6 percent in March.

Industrial new orders increased 3.4 percent year-on-year in March.

Construction output rose a working-day adjusted 8.2 percent annually in March, the statistical office said in a separate report.

On a seasonally adjusted basis, the construction output declined 3.7 percent from the prior month in March.

In a separate communiqué, the Czech Statistical Office said the trade balance registered a deficit of CZK 13.79 billion in March versus a surplus of CZK 16.76 billion in the same month last year.

Exports gained 3.9 percent annually in March and imports grew 12.7 percent.

On a monthly basis, exports increased by seasonally adjusted 0.3 percent and imports rose by 2.0 percent.

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