Czech October Current-Account Gap Worse Than Analysts Forecast

Dec. 13 (Bloomberg) -- The Czech current-account deficit widened in October and was worse than analysts forecast as the outflow of dividends outweighed the foreign-trade surplus, the central bank said.

The current-account shortfall totaled 16.1 billion koruna ($833 million), after a deficit of 7.3 billion koruna in September, the Prague-based central bank said in a statement on its website today. The reading compared with the median forecast of a 2 billion-koruna surplus in a Bloomberg survey of 12 analysts.

Dividend payments from direct investments in the Czech Republic totaled 20.2 billion koruna in October, the bank said. The goods and services balance was in a surplus, it said.

To contact the reporter on this story: Peter Laca in Prague at placa@bloomberg.net

To contact the editor responsible for this story: Balazs Penz at bpenz@bloomberg.net