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Banking

Markets expect foreign trade deficit to shrink by 40% y/y in October.

Markets expect foreign trade deficit to shrink by 40% y/y in October. The deficit on the foreign trade should drop to SKK 4bn for October, down by roughly 40% y/y, according to a poll among market analysts. The lower trade gap forecast was explained by expectations for accelerating of the export growth with the launch of new export capacity in the transport equipment sector. Data for the industrial output for the month confirmed that the output of the sector increased markedly, which should be related to higher sales abroad as it is mainly export-orientated. At the same time, the growth of the imports was projected to slow down for the month. This should be on account of the drop in the oil prices on the international markets but mainly to the completion of stock accumulation of large companies, which was believed to be behind the strong growth rates of the import, registered in the Q3 months.

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