All analysis from category Macro comment
Macro comment
Unemployment in July: labour market situation worsens slightly
The share of unemployed in the 15-64 population rose by 0.2 percentage point to 3.8% in July. This is an increase of 0.2 percentage points year-on-year. 283 000 jobseekers were registered at the labour offices, 10 000 more than in June. Seasonally adjusted, we estimate that the jobless rate stagnated at 3.8%.
Macro comment
Foreign trade in June: foreign trade in good shape despite weak industry
The trade balance is doing well this year. This was no different in June. The balance of foreign trade ended in a surplus of CZK 29.3 billion, which was CZK 11.2 billion higher year-on-year. Exports fell by 4.2% year-on-year and imports by 7.3%, mainly due to the year-on-year disadvantage of two working days.
Macro comment
Industry in June: decline in the automotive industry
Industrial production in June showed a year-on-year decline for the fourth month in a row, and the rate of decline is accelerating further.
Macro comment
Retail sales in June: retail sales growth continues
Retail sales growth continued in June for the seventh month in a row. Retail sales rose by 0.7% month-on-month. They added 4.4% year-on-year after adjusting for working days.
Macro comment
CNB: Interest rates are falling, but more cautiously
Monetary policy continues the trend of falling interest rates. However, after a series of decisive steps, this time the cut came by the standard 25 basis points. The depreciation of the koruna and concerns about wage and service price growth are probably the main reasons for the more cautious approach. However, the continuation of very weak economic growth is a tribute to this.
