All analysis from category Macro comment
Macro comment
Foreign trade in July: first deficit this year
The balance of foreign trade ended in a deficit of CZK 5.9 billion in July. July was the first month this year when the trade balance was in deficit. Even so, this is a year-on-year improvement of CZK 16.6 b
Macro comment
Industry in July: declining production and new orders
Industrial production started to decline again in July after two months, and this decline was evident in most sectors. The outlook is not positive for the following months either.
Macro comment
Wages in Q2: Real wage decline continues
At the end of 2021, prices began to rise faster than wages, and this adverse trend continues today. In Q2, average wages increased by 7.7 per cent year-on-year, but after accounting for inflation, average wages fell by 3.1 per cent in real terms.
Macro comment
PMI in August: falling demand continues
Business conditions were below the neutral value of 50 points in August for the fifteenth month in a row, indicating a decline in business activity.
Macro comment
Consumer prices in July: Inflation falling but target still far away
Unsurprisingly, inflation continues to fall. In July, the consumer price index rose 0.5 percent month-on-month, yet year-on-year inflation slowed to 8.8 percent. Compared to the start of the year, inflation is now roughly half of what it was at the beginning of the year. However, its decline will be much slower in the coming months.
