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Czech Industrial Production Declines; Trade Balance Swings To Deficit

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The Czech industrial production declined unexpectedly in February, data from the Czech Statistical Office showed on Wednesday.

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

Industrial production fell a working-day adjusted 0.3 percent year-on-year in February, after a 1.2 percent growth in January. Economists had forecast a 1.5 percent rise.

Manufacturing output rose 0.4 percent yearly in February and mining and quarrying output increased 7.1 percent.

Meanwhile, electricity, gas, steam and air conditioning output declined 6.6 percent.

On a monthly basis, industrial production dropped a seasonally adjusted 2.4 percent in February.

Industrial new orders increased 5.6 percent year-on-year in February, but slower than the 7.0 percent rise in January.

Construction output rose a working-day adjusted 18.9 percent annually in February, the statistical office said in a separate report.

On a seasonally adjusted basis, the construction output gained 4.8 percent monthly in February.

Another report from the Czech Statistical Office showed that the trade balance registered a deficit of CZK 4.4 billion in February versus a surplus of CZK 21.3 billion in the same month last year.

Exports grew 7.0 percent annually in February and imports gained 16.5 percent.

On a monthly basis, exports decreased by seasonally adjusted 2.62 percent in February and imports fell by 0.3 percent.

*Euro Ticks Up To 0.8350 Against Pound

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