Industrial Production Growth Slowed In May

Industrial production growth slowed in May after rising in the previous month, the Czech Statistical Office showed on Monday.


Industrial production climbed 3.2 percent year-on-year in May, after a 3.3 percent increase in April. Economists had expected a 1.1 percent rise. In March, production edged up 0.2 percent.


Manufacturing output rose 3.1 percent annually in May, the same rate as seen in April.


On a month-on-month basis, industrial production rose 1.1 percent in May, following a 0.8 percent increase in the previous month.


Separate data from the Czech Statistical Office showed that the construction output rose 0.2 percent annually in May, after a 8.9 percent growth in the preceding month.


On a monthly basis, construction output fell 2.5 percent in May.


Another report from the Czech Statistical Office showed that the trade surplus was CZK 24.4 billion in May, higher than CZK17.2 billion in the same month previous year. Economists had expected a surplus of CZK11.9 billion.


Exports grew 8.1 percent annually in May and imports rose 2.5 percent.