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Czech Industrial Production Falls; Trade Deficit Widens

The Czech Republic's industrial production declined further and trade deficit increased in December, figures from the Czech Statistical Office showed on Thursday.

Industrial production decreased 3.4 percent year-on-year in December, following a 3.2 percent fall in November.

Manufacturing output declined 3.0 percent annually in December.

Mining and quarrying output dropped 13.4 percent and production of electricity, gas, steam and air condition decreased 4.3 percent.

On a month-on-month basis, industrial production fell 0.9 percent in December.

In 2019, industrial production fell 0.5 percent compared to last year.

Separate data from the statistical office showed that the construction output increased 6.3 percent annually in December, following a 4.5 percent rise in November.

On a monthly basis, construction output rose 1.6 percent in January.

In 2019, construction output gained 2.3 percent from the previous year.

Another data from the Czech Statistical Office showed that the trade deficit widened to CZK 6.7 billion in December from CZK 4.6 billion in the same month last year. In November, the trade balance registered a surplus of CZK 11.02 billion.

Exports declined 2.4 percent year-on-year in December and imports fell 1.5 percent.

On a monthly basis, the seasonally adjusted exports and imports decreased by 1.8 percent, each, in December.

In 2019, the trade surplus was CZK 148.9 billion from CZK 98.4 billion in 2018. Exports and imports rose 2.0 percent and 0.6 percent, respectively.

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