Czech Industrial Output Growth Improves; Trade Deficit Narrows

(RTTNews) - The Czech Republic's industrial production growth rebounded in July, while the trade deficit decreased from last year, separate reports from the Czech Statistical Office revealed on Monday.

Industrial production rose a working-day-adjusted 1.8 percent year-on-year in July, faster than the 0.2 percent rise in June.

The expansion in July was driven by a 9.8 percent growth in the mining and quarrying output, followed by a 1.7 percent growth the manufacturing sector and a 1.1 percent rise in utility sector production.

On a monthly basis, industrial output increased 0.8 percent.

Construction output advanced 10.1 percent annually and by 1.0 monthly in July.

In a separate report, the Czech Statistical Office said the trade deficit of the country decreased to CZK 1.7 billion in July from CZK 7.2 billion in the corresponding month last year. In June, the trade balance showed a surplus of CZK 28.0 billion.

Exports climbed 4.7 percent year-on-year in July, and imports rose at a comparatively slower pace by 3.1 percent.