August industrial output grew by 12.9 percent

The Czech Republic’s industrial output grew by 12.9 percent in August year-on-year, according to government figures released on Thursday. Compared to July, industrial output grew by 5.3 percent. Analysts say August growth exceeded expectations due to revived demand from abroad in the automotive, metalworking and electronic sectors. The volume of new orders climbed by over 22 percent year-on year while orders from abroad rose by more than 20 percent. In related news, the country’s foreign trade surplus in August dropped to 0.5 billion crowns; exports increased by 23 percent while imports by just over 30 percent.