All analysis from category Macro comment
Macro comment
Unemployment in September: The usual influx of school graduates
After the summer holidays, employment offices tend to be busy. The number of newly registered job seekers in September is usually the second highest in the year, surpassed only by January. Under favorable economic conditions, the vast majority of these new job seekers manage to find employment. Unfortunately, this was not the case this time. The number of job seekers rose to 337,925, compared to 333,624 at the end of August. The unemployment rate remained unchanged at 4.5 percent, reaching 4.6 percent after seasonal adjustment.
Macro comment
Retail in August: Stable growth in domestic demand
Domestic demand is the pillar of current GDP growth. Following the restoration of real wage growth, it has been growing steadily for the second year in a row. In August, retail sales increased by 0.6 percent in real terms month-on-month and by 3.5 percent year-on-year.
Macro comment
Industrial production in August: Decline in production, new orders, and employment
Czech industry is suffering under the weight of structural problems in the German economy, and now there is the added negative impact on exports from the EU to the US. In August, industrial production fell by 1.1 percent month-on-month, with a year-on-year decline of 4.2 percent.
Macro comment
Consumer prices in September: Inflation remains low
For the second year running, inflation has remained well within the tolerance band around the central bank’s inflation target. Consumer prices fell by 0.6% month on month in September, with year-on-year inflation slowing from 2.5% to 2.3%.
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.
