July trade surplus surpasses expectations

The Czech Republic's foreign trade surplus in July surpassed expectations on continued export growth, but industrial output growth is slowing and the overall outlook is clouded by Europe's economic slowdown, data from the Czech Statistical Office showed Tuesday. The July trade surplus totalled 14.00 billion crowns (805.0 million US dollars), compared with a revised 18.1 billion surplus in June. The market expected a surplus of 8.6 billion. Exports in July rose 9.3% on the year, compared with annual growth of more than 17% in four of the first five months of the year, while imports rose 4% in July, also down from highs earlier in the year.