Even though industrial output deteriorated in May, it still manifests resilience, with leading indicators generally remaining robust. So far, there is limited evidence of any significant and sustained deterioration in industrial activity due to trade barriers. Although the decline in industrial output in May was broad-based, only the coming months will tell whether the tariffs are beginning to take a heavy toll on Czech industry. The foreign trade balance continues to demonstrate resilience. Although it narrowed in May, it continued to expand in seasonally adjusted terms, with exports falling less than imports. Construction recorded a significant increase in May, partially offsetting a weak April.