All analysis from category Macro comment
Macro comment
Unemployment in July: slight deterioration in conditions
July typically sees a slight increase in unemployment due to graduates entering the labor market, and this year is no different. The unemployment rate among the population aged 15–64 rose by 0.2 percentage points month-on-month to 4.4 percent in July.
Macro comment
CNB: Cautious waiting and optimistic forecast
At its August meeting, the Bank Board decided to leave interest rates unchanged. The main repo rate remained at 3.5%, reflecting the optimistic GDP forecast and continued elevated inflation in services.
Macro comment
Retail in June: household consumption continues unabated
Retail sales in June grew year-on-year for the nineteenth month in a row, and thanks to growth in real household incomes, a similar trend can be expected in the second half of the year.
Macro comment
Industry in June: significant slowdown in growth
Industrial production grew for the fifth consecutive month in June compared to the same month last year, but the pace of growth slowed significantly and problems from abroad are beginning to be reflected in hard data.
Macro comment
Foreign trade in June: Revival of domestic demand and higher oil prices
Exports and imports have been rising this year thanks to a slight improvement in the economic situation in the euro area and a recovery in domestic demand. The latter factor is slightly stronger, which is why the trade surplus has narrowed this year. Exports increased by 7.4 per cent year-on-year in June, imports rose by 9.2 per cent and foreign trade reached a surplus of CZK 26.3 billion.
