All analysis from category Macro comment
Macro comment
Retail sales in March: growth of non-food goods continues
Retail sales had risen for the 16th month in a row in March on a year-on-year basis and did not appear to be turning around this year due to growth in real household incomes.
Macro comment
CNB: Lower inflation and risks to GDP have opened the way to lower interest rates
After a short pause, the CNB has returned to cutting interest rates. However, it still remains slightly behind the optimal interest rate path. However, the CNB's new forecast already admits that rates will fall below the neutral level of 3 per cent.
Macro comment
Foreign trade in March: Slight improvement in exports and imports
Demand abroad and at home may be reviving, but it is not a sprint. Foreign trade transaction volumes clearly demonstrate this. Exports are up 6.0 per cent year-on-year, while imports are up 8.8 per cent. However, March had one more working day than last year. The trade surplus reached CZK 32.5 billion, which is CZK 8 billion less than in March last year.
Macro comment
Industry in March: continued growth despite uncertainties
Industrial production grew in March in annual comparison for the second month in a row and it seems that the US trade war has not yet disturbed the development in the Czech Republic.
Macro comment
Consumer Prices in April: Tamed Inflation
It has not been a long time since inflation fell below the CNB's inflation target. The last time it started at number one was exactly seven years ago in April 2018. This April, consumer prices decreased by 0.1 percent month-on-month and year-on-year inflation fell to 1.8 percent.
