All analysis from category Macro comment
Macro comment
Unemployment in April: seasonal decline in unemployment
The share of unemployed persons in the 15-64 population fell by 0.1 percentage point to 3.6% in March. It is 0.3 percentage point higher year-on-year. 262 thousand jobseekers were registered at the labour offices. After seasonal adjustment, we estimate that the jobless rate stagnated at 3.6%, or the decline in unemployment is due only to seasonal factors such as the start of work in agriculture and construction.
Macro comment
Foreign trade in March: in surplus again
The balance of foreign trade ended in a surplus of CZK 15.9 billion in March, an improvement of CZK 28.1 billion year-on-year. This is the third month in a row that foreign trade has been in surplus.
Macro comment
Industry in March: growth thanks to car production
Industrial production increased in March, mainly thanks to growth in car production, but most sectors showed a decline in production and the outlook for the future does not show any significant improvement.
Macro comment
Retail sales in March: sales down in most product groups
Retail sales fell in February for the eleventh month in a row on a year-on-year basis. As households' real incomes are falling, a decline in sales is recorded in most product groups. Retail sales excluding motor vehicles fell by 0.7 per cent month-on-month on a calendar and seasonally adjusted basis. Year-on-year, retail sales fell by 8.1 per cent on a calendar-adjusted basis.
Macro comment
GDP in Q1 2023: The recession is over, growth has not started
The Czech economy is stalling. High inflation is still weighing on households. The decline in GDP has stopped, but growth is minimal. In Q1, GDP increased by 0.1 per cent compared to the previous quarter, or fell by 0.2 per cent year-on-year.
