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3/15/2016, 11:34 AM (Source: TeleTrader)
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Czech industrial production expands, construction contracts

Industrial production in Czech Republic increased at the seasonally adjusted annual rate of 1.0% (at constant prices), while the construction activity in January rose 3.7% compared to December. Working days increased by 3.5%. The value of new orders for construction increased by 2.4%, and sales from industrial activity at current prices decreased by 2.2%, for the year ending in January 2016. The average registered number of employees in industrial enterprises with 50 or more employees increased by 3.6% in the year ending in January. Their average monthly nominal gross wage increased by 1.8% year on year and reached CZK 27,649 (€1,022.40), according to latest set of data from the Czech Statistical Office (ČSU).

The construction output decreased by 10.4%, in real terms, as the authorities granted 1% more building permits, while the average value of permitted constructions increased by 45.5% in the year ending in January 2016. The number of started dwellings jumped up by 35.9%, and the number of completed dwellings grew by 11.8% in the year ending in January. The huge drop in construction activity was indicated with construction output lower by 10.4%, and the average working day output when adjusted for season was 7.9% lower.

The average registered number of employees in construction enterprises with 50 or more employees fell by 2.2%, while their average gross monthly nominal wage increased by 5.8%, compared to the one in January 2015, and reached CZK 29,832 (€1,086.45), according to data from the Czech Statistical Office (ČSU).

In Prague, the PX index was fell 0.25% to 911 points, with NWR mining company being the biggest advancer, up 9.09%. ČEZ energy corporation lost 1.78%. The PX Total return index was also down 0.25% to 1,387 points. The CTX index traded 0.39% lower.

The Czech koruna inched up 0.01% to exchange 27.0445 for €1 at 11:33 a.m. CET.

Breaking the News / ZR