All analysis from category Macro comment
Macro comment
CNB: Time of stable interest rates
At its November meeting, the Bank Board decided to leave interest rates unchanged. The main repo rate remains at 3.5%. The decision reflects the optimistic GDP forecast and existing inflation risks.
Macro comment
Industrial production in September: Cloudy with a chance of rain
Industry has been more or less treading water for several months now. In August, production fell by 1.1 percent month-on-month, while in September it rose by 1.1 percent. Year-on-year growth was a meagre 0.4 percent. The decline and growth in new orders fluctuate similarly.
Macro comment
Unemployment in September: The usual influx of school graduates
After the summer holidays, employment offices tend to be busy. The number of newly registered job seekers in September is usually the second highest in the year, surpassed only by January. Under favorable economic conditions, the vast majority of these new job seekers manage to find employment. Unfortunately, this was not the case this time. The number of job seekers rose to 337,925, compared to 333,624 at the end of August. The unemployment rate remained unchanged at 4.5 percent, reaching 4.6 percent after seasonal adjustment.
Macro comment
Retail in August: Stable growth in domestic demand
Domestic demand is the pillar of current GDP growth. Following the restoration of real wage growth, it has been growing steadily for the second year in a row. In August, retail sales increased by 0.6 percent in real terms month-on-month and by 3.5 percent year-on-year.
Macro comment
Industrial production in August: Decline in production, new orders, and employment
Czech industry is suffering under the weight of structural problems in the German economy, and now there is the added negative impact on exports from the EU to the US. In August, industrial production fell by 1.1 percent month-on-month, with a year-on-year decline of 4.2 percent.
