All analysis from category Macro comment
Macro comment
Wages in Q2 2025: Fastest real growth in four years
With economic growth and calming inflation comes faster wage growth. In Q2, average gross wages increased by 7.8 per cent year-on-year to CZK 49,402. Adjusted for inflation, the real increase was 5.3 per cent, the highest in four years.
Macro comment
PMI in August: negative impacts of tariffs
The business conditions index declined in August for the second month in a row, even though the outlook from previous months had been positive for companies.
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.
