All analysis from category Macro comment
Macro comment
Unemployment in August: Another creeping increase
The holidays are a time when unemployment rises slightly. This is mainly due to weaker hiring activity in firms. This time, the number of jobseekers on the labour office register rose by more than 4,000 to 333,624 in August. The share of unemployed persons increased by a tenth of a percentage point to 4.5 per cent.
Macro comment
Industrial production in July: Slowly Forward
Industry remains the weakest point of the Czech economy. While services are benefiting from a recovery in domestic demand and construction is recovering from last year's decline, industry is mainly reliant on foreign demand, which is still growing slowly. Industrial production increased by 0.8 per cent month-on-month in July, and rose by 1.8 per cent year-on-year.
Macro comment
Retail in July: Domestic demand respite
Domestic demand is the main driver of the current economic growth. However, it took a breather in July. Retail sales fell 0.3 percent month-over-month, and the annual growth rate slowed to 2.5 percent, the lowest in 19 months.
Macro comment
Consumer prices in August: balance of power in the consumer basket
Things are calm again on the inflation front. In August, the consumer price index rose 0.1 per cent month-on-month and annual inflation slowed to 2.5 per cent. In the consumer basket, declining food and energy prices are now being balanced with rising service prices.
Macro comment
Wages in Q2 2025: Fastest real growth in four years
With economic growth and calming inflation comes faster wage growth. In Q2, average gross wages increased by 7.8 per cent year-on-year to CZK 49,402. Adjusted for inflation, the real increase was 5.3 per cent, the highest in four years.
