All analysis from category Macro comment
Macro comment
Unemployment in March: Favorable Spring Seasonality
The labor market has weathered another winter and is coming back to life in the spring. The unemployment rate fell to 5.0 percent in March. The total number of job seekers dropped to 372,000, though it is still 50,000 higher than a year ago.
Macro comment
Industrial Production in February: Creeping Growth and a Shutdown at JETE
Festina lente, or “make haste slowly.” That is precisely what characterizes current developments in Czech industry. Last year, after two years of decline, the industry returned to growth, but it is certainly not setting any speed records. This February, industrial production volume increased by 1.3 percent both month-on-month and year-on-year. The volume of new orders also rose slightly, while employment continued to decline.
Macro comment
Retail in February: A Breather After the Post-Christmas Sales
Following a strong January, retail sales stagnated month-over-month in February; year-over-year, however, sales rose by a solid 4.1 percent. Domestic demand remains robust at the start of this year and continues to be the main driver of economic growth.
Macro comment
Consumer Prices in March: The Oil Crisis
The sharp rise in fuel prices has fed into inflation. However, thanks to declines in previous months, overall inflation remains at a reasonably low level. Consumer prices rose by 0.6 percent month-on-month in March, while year-on-year inflation moved from 1.4 to 1.9 percent. However, if the conflict in the Middle East does not end quickly, inflation will continue to rise.
Macro comment
Retail in January: Strong post-Christmas sales
Czech households were a little cautious with their spending over Christmas, but they made up for it in January. Retail sales rose by 1.0 percent month-on-month at the beginning of the year and by 5.0 percent year-on-year. Domestic demand will again be a key contributor to GDP growth this year.
