Czech Industrial Output Declines At Slower Pace In August

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Czech industrial production decreased 8.1% year-on-year in August, markedly slower than the revised 18.2% decrease in the previous month, a preliminary report from the Czech Statistical Office showed Thursday. Economists were looking for a 12.4% decline.

In August, sales from industrial activity decreased 12.5% at current prices, while those from direct exports fell by 8%.

Industrial new orders value dropped 13.8%, of which non-domestic orders were down 10.5%.

At the same time, registered employment in enterprises with 50 or more employees decreased 14%, while average wage in these enterprises grew 5.5%.

Czech industrial production decreased 8.1% year-on-year in August, markedly slower than the revised 18.2% decrease in the previous month, a preliminary report from the Czech Statistical Office showed Thursday. Economists were looking for a 12.4% decline. (Market News Provided by RTTNews)