All analysis from category Macro comment
Macro comment
July state budget: money from EU and CEZ will help
In January-July, the central government ran a deficit of CZK 214 billion. In July alone, the budget was in surplus of CZK 1.2 billion. The twelve-month balance, though down, still remains at CZK 382 billion.
Macro comment
PMI in July: only a slight improvement in conditions
Business conditions in July were below the neutral value of 50 points for the 14th month in a row, indicating a decline in business activity.
Macro comment
GDP in Q2 2023: Minimum growth
Minimal growth or stagflation are probably the most apt terms to describe this year's economic situation. GDP increased by 0.1 per cent in Q2 compared to the previous three months when it stagnated for a change. Year-on-year, the economy's performance fell by 0.6 per cent.
Macro comment
Consumer prices in June: Single-digit inflation returns
After last year's inflation storm, this year's expected calming of price developments is coming. Annual inflation has returned to single digits.
Macro comment
Unemployment in June: seasonal decline in unemployment
The share of the unemployed in the 15-64 population fell by 0.1 percentage point to 3.4% in June. It is 0.3 percentage point higher year-on-year. There were 250 000 jobseekers registered at the labour offices. Seasonally adjusted, we estimate that the jobless rate stagnated at 3.6%, or the decline in unemployment is due purely to seasonal factors, not to developments in the economy.
