Czech Industrial Production Growth Accelerates; Trade Deficit Widens

(RTTNews) - The Czech Republic's industrial production growth accelerated sharply in August, data from the Czech Statistical Office revealed on Friday.

Separate data showed that the foreign trade deficit widened in August from a month ago as imports grew faster than exports.

Industrial production climbed a working-day adjusted 7.2 percent year-on-year in August, well above the 0.9 percent rise in July.

Among sectors, manufacturing output advanced 7.5 percent yearly in August, and mining and quarrying production rose 7.1 percent.

Electricity, gas, steam and air conditioning output showed an increase of 5.0 percent.

On a monthly basis, industrial production rose a seasonally adjusted 0.8 percent in August.

Data also showed that construction output increased 0.4 percent yearly and by 1.4 percent monthly in August.

In a separate communiqué, the Czech Statistical Office said the trade deficit widened to CZK 28.22 billion in August from CZK 21.54 billion in July.

In the corresponding month last year, there was a shortfall of CZK 27.78 billion.

Exports rose a seasonally adjusted 0.3 percent monthly in August, and imports grew 1.3 percent.

On a yearly basis, both exports and imports surged by 27.9 percent and 25.5 percent, respectively.