Czech Industrial Output Shrinks; Trade Balance Swings To Surplus

(RTTNews) - The Czech Republic's industrial production declined at a more-than-expected pace in November after recovering in the previous month, data from the Czech Statistical Office revealed on Monday.

Separate data showed that the foreign trade balance turned to a surplus from a deficit in the previous year as imports fell faster than exports.

Industrial production contracted a working-day-adjusted 2.6 percent year-on-year in November, reversing a 1.9 percent increase in November, which was the first rise in four months. That was well above the expected fall of 1.5 percent.

Mining and quarrying output contracted the most by 16.4 percent annually in November, and that of the utility segment dipped by 6.7 percent. Output produced in the manufacturing sector was 2.0 percent lower.

In the middle of the last quarter, construction output decreased by 3.5 percent on a monthly basis and 6.5 percent annually.

In a separate report, the Czech Statistical Office said the trade balance of the country turned to a surplus of CZK 30.8 billion in November from a CZK 26.4 billion deficit in the corresponding month last year.

In October, the trade balance showed a surplus of CZK 14.7 billion.

Exports logged an annual decrease of 2.6 percent in November, while imports declined at a more intense pace of 15.4 percent.

On a monthly basis, both exports and imports dropped by a seasonally adjusted 1.4 percent and 3.7 percent, respectively.