All analysis from category Macro comment
Macro comment
CNB: Interest rates are falling, but more cautiously
Monetary policy continues the trend of falling interest rates. However, after a series of decisive steps, this time the cut came by the standard 25 basis points. The depreciation of the koruna and concerns about wage and service price growth are probably the main reasons for the more cautious approach. However, the continuation of very weak economic growth is a tribute to this.
Macro comment
Purchasing Managers' Index: July 2024
The Czech industry is not doing very well. This is shown not only by official production statistics, but also by surveys among companies, the results of which are summarised in the Purchasing Managers' Index. The index fell to 43.8 points in July from 45.3 points in June, with the threshold between growth and decline being 50.
Macro comment
GDP in Q2: slow growth driven by household consumption
According to the first estimate, gross domestic product grew by 0.3% quarter-on-quarter and by 0.4% year-on-year in Q2, following growth of 0.2% quarter-on-quarter in Q1.
Macro comment
Consumer prices in June: Inflation easing
After two years of high inflation, we can enjoy calm prices this month. There are no significant price increases in any part of the consumer basket. Only some administratively determined prices and seasonal fluctuations stand out from time to time. The consumer price index fell by 0.3 per cent in June, with annual inflation returning to 2.0 per cent.
Macro comment
Unemployment in June: Seemingly windless
At first glance, nothing special is happening in the labour market. A closer look reveals a gradual deterioration in the situation, which fits in with current developments in industry and construction. The share of the unemployed in the population stagnated at 3.6 per cent in June, while the number of registered jobseekers fell slightly to 273,000.
