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Indicator Analysis: August data surprisingly positive

10/7/2022 1:55 PM

Despite high input prices and worsening leading indicators, August data from the real economy was surprisingly positive. Although car production stagnated, manufacturing did very well, with growth in sectors that had shown poor results in previous months. The construction sector also managed to break the streak of month-on-month declines. Although the external trade deficit was slightly deeper year-on-year, it was mainly due to higher gas and oil prices, while the trade surplus in motor vehicles was higher year-on-year. Moreover, the year-on-year growth rate of exports outpaced that of imports for the first time in a long time.

Autor: Jana Steckerová
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