Czech Current Account Swings To Deficit In November

The Czech Republic’s current account swung to a deficit in November, mainly due to a shortfall in the income account, the Czech National Bank said on Friday.

The current account showed a deficit of CZK 7.264 billion versus a surplus of CZK 7.760 billion in October. Economists had forecast a surplus CZK 8 billion.

The trade surplus expanded to CZK 19.904 billion from CZK 18.996 billion in the previous month. The surplus in the services trade fell to CZK 1.265 billion from CZK 5.500 billion.

The income account revealed a shortfall of CZK 40.120 billion, which was larger than October’s deficit of CZK 19.144 billion.

The material has been provided by InstaForex Company – www.instaforex.com

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