All analysis from category Macro comment
Macro comment
State budget in November 2024: Almost on last year's tracks
With one month left in the year, the state budget appears to be on track with last year. In fact, even the full-year budgeted figures, adjusted for flooding, are pointing to a similar deficit as last year. Revenues increased by 1.1% year-on-year in January-November, while expenditures rose by 0.4%. The state budget deficit at the end of November reached CZK 259 billion, compared to CZK 269 billion last year.
Macro comment
PMI in November: continued weak demand from abroad
Business conditions in November were below the neutral 50-point mark indicating a decline in business activity for the thirtieth month in a row.
Macro comment
Consumer prices in October: Services inflation inertia
The response to the rapid decline in inflation at the end of last year has been a slight acceleration this autumn. However, except for the seasonal rise in clothing prices, nothing dramatic is happening in the consumer basket. The consumer price index rose 0.3 per cent month-on-month in October, while annual inflation accelerated to 2.8 per cent.
Macro comment
Unemployment in October: decline due to seasonal factors
Unemployment tends to fall in October, and this year is no different. The share of unemployed in the 15-64 population fell by 0.1 percentage point month-on-month to 3.8 per cent in October.
Macro comment
Retail sales growth accelerates in September
Retail sales had risen for the tenth month in a row in September on a year-on-year basis and were expected to continue rising thanks to rising real household incomes.
