All analysis from category Macro comment
Macro comment
Consumer prices in December: inflation within acceptable limits
As expected, inflation accelerated at the end of the year but managed to remain at the upper end of the tolerance band of the central bank's inflation target. In December, the consumer price index fell by 0.3 per cent month-on-month, while annual inflation moved from 2.8 per cent in November to 3.0 per cent.
Macro comment
Labour market in December: Seasonal and structural unemployment
At the end of the year, seasonal and structural factors added up and unemployment rose again slightly. The unemployed as a share of the population reached 4.1 per cent at the end of December, 0.4 percentage points higher than a year earlier. The total number of registered jobseekers rose to 306.5 thousand, up by 27.3 thousand year-on-year.
Macro comment
Industry in November: continued decline towards the end of the year
Industrial production in November showed a year-on-year decline for the second month in a row. In addition, production is also down month-on-month.
Macro comment
Foreign trade in November: Weak demand from Germany and Slovakia
Foreign trade mirrors the Czech economy. While exports are weighed down by the weakness of the German economy, imports reflect the recovery in domestic demand. Exports increased by 4.4 per cent year-on-year in November, while imports rose by 5.8 per cent. The trade balance showed a surplus of 23.6 billion euro. This is CZK 4.2 billion less than a year ago.
Macro comment
State budget in 2024: Higher taxes and flooding
On the surface, the state budget turned out well last year. The projected deficit adjusted for the floods was CZK 282 billion. The actual figure is CZK 271 billion. In reality, however, CZK 15 billion was spent on the floods, not the budgeted CZK 30 billion. In 2023, the deficit would reach CZK 289 billion. The budget has therefore improved year-on-year, but the planned deficit has been exceeded.
