All analysis from category Macro comment
Macro comment
Foreign trade in February: second month in surplus
The balance of foreign trade ended in a surplus of CZK 14.3 billion in February, a year-on-year improvement of CZK 21.2 billion. Thus, for the second month in a row, the trade balance is in surplus, however, the 12-month balance remains a threatening CZK -177 billion, but is declining.
Macro comment
Retail sales in February: decline continues
As expected, the year-on-year decline in retail sales continued in February. Sales fell by 6.4% year-on-year in real terms. The year-on-year decline in retail sales more or less corresponds to the decline in real wages, which fell by 6.7% in real terms in Q4. Compared with January, sales fell by 0.4% in real terms.
Macro comment
Purchasing Managers' Index in March: Decline in production and orders
The start of this year has not been very favourable for Czech companies, as indicated by the March Purchasing Managers' Index. The index remained unchanged last month and, as in February, reached 44.3 points, which, incidentally, is the lowest value compared to other countries where this indicator has already been published.
Macro comment
March state budget: public finances fall into the abyss
In January-March, the central government ran a deficit of CZK 166.2 billion. In March alone, the budget was in deficit by CZK 46.5 billion. The twelve-month balance rose to CZK 467.4 billion and we are nowhere near the full-year target of CZK 295 billion.
Macro comment
Retail sales in January: sales decline continues at the beginning of the year
Retail sales fell for the ninth month in a row in January. The decline is still evident in most product groups, in other words, no significant improvement is expected in the coming months. Retail sales excluding motor vehicles rose by 0.3 per cent month-on-month on a calendar and seasonally adjusted basis. On a year-on-year basis, retail sales fell by 7.7 per cent on a calendar-adjusted basis.
