All analysis from category Macro comment
Macro comment
Retail sales growth accelerated in July
Retail sales rose for the eighth month in a row on a year-on-year basis in July, in line with rising real household incomes this year.
Macro comment
Wages in Q2: Slow recovery from the inflation shock
Inflation has subsided and the real value of wages is rising again. However, the nominal wage growth rate is gradually slowing down. The labour market is no longer overheated and this is also reflected in wage developments. Average gross wages increased by 6.5 per cent year-on-year to CZK 45 854 in Q2 this year. In real terms, average wages rose by 3.9 per cent.
Macro comment
Government budget in August 2024
The government budget showed a deficit of CZK 175.8 billion at the end of August. The deficit decreased by CZK 16.5 billion compared to the end of July. Revenues increased by 2.0% year-on-year, while expenditures rose by 0.4%. The deficit for the last 12 months increased slightly to CZK 269.7 billion.
Macro comment
PMI in August: pace of decline in manufacturing slows
Business conditions were below the neutral value of 50 points in August for the twenty-seventh month in a row, indicating a decline in business activity.
Macro comment
Consumer prices in July: increase in recreation prices
Inflation measured by the consumer price index has been within the CNB's tolerance band throughout this year, and this was also the case in July.
