Czech June Current Account Deficit Widens Less Than Expected


13/08/2012 15:07 AST  RTT News

Czech current account deficit increased from the previous month in June, but was below economists' forecast, data from the Czech National Bank showed Monday.

The current account shortfall climbed to CZK9.134 billion in June from CZK8.155 billion in May. In April, the balance was a surplus of CZK5.275 billion. Economists were looking for a deficit of CZK12 billion.

The merchandise account showed a surplus of CZK14.426 billion during the month, up from May's CZK10.497 billion surplus. The surplus in the services account advanced to CZK5.225 billion from CZK4.684 billion.

The income account showed a deficit of CZK27.297 billion in June, wider than the CZK23.38 billion shortfall recorded in the preceding month. The current transfers account slipped to a deficit of EUR1.488 billion in June from a surplus of CZK43.1 million, data showed.

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