2023.04.0614:30:00UTC+00Czech Industrial Production Rebounds; Trade Balance Swings To Surplus

The Czech Republic's industrial production expanded in February after contracting in the prior month, led by an upturn in manufacturing output, data from the Czech Statistical Office revealed on Thursday.

Separate data showed that the foreign trade balance turned to a surplus in February from a deficit in the previous year, as exports grew more rapidly than imports.

Industrial production climbed a working-day adjusted 2.0 percent year-on-year in February, reversing a 1.9 percent fall in January, which was the first decline in nine months.

Manufacturing output rebounded by 2.6 percent annually in February, after a 1.0 percent contraction a month ago.

?On the other hand, mining and quarrying output fell further by 5.6 percent, and that of electricity, gas, steam and air conditioning supply slid 1.1 percent.

?On a monthly basis, industrial production rose a seasonally adjusted 0.4 percent in February.

In a separate report, the Czech Statistical Office said the trade balance of the country turned to a surplus of CZK 14.3 billion from a deficit of CZK 6.9 billion in the corresponding month last year.

In January, there was a surplus of CZK 9.2 billion.

?Exports logged an annual growth of 9.9 percent in February, while imports showed a comparatively slower rise of 3.3 percent.

On a monthly basis, both exports and imports fell by a seasonally adjusted 1.5 percent and 2.8 percent, respectively.