Czech Industrial Output Shrinks, Trade Gap Narrows

(RTTNews) - The Czech Republic's industrial production contracted for the first time in six months in July as output declined in all subsectors, data from the Czech Statistical Office revealed on Wednesday.

Separate data showed that the foreign trade deficit narrowed sharply in July from a year ago as imports fell faster than exports.

Industrial production dropped a working-day adjusted 2.8 percent year-on-year in July, reversing a 0.9 percent rise in the previous month.

Mining and quarrying output fell the most by 19.5 percent annually in July, versus a 28.8 percent slump in June. This was followed by a 15.0 percent decline in output in the segments of electricity, gas, steam, and air conditioning supply.

However, manufacturing output decreased at a comparatively lower pace of 1.1 percent.

Construction output contracted 2.1 percent annually in July, while it was 3.8 percent lower compared to last month.

In a separate report, the Czech Statistical Office said the trade deficit of the country decreased markedly to CZK 5.9 billion in July from CZK 22.5 billion in the corresponding month last year.

In June, the trade balance showed a surplus of CZK 19.1 billion.

Exports logged an annual decline of 4.0 percent in July, and imports slid by 8.4 percent.

On a monthly basis, both exports and imports dropped by a seasonally adjusted 3.6 percent and 1.4 percent, respectively.