Read expert studies and texts on current trends to help you quickly navigate the latest macroeconomic data
Retail sales in November: renewed growth towards the end of the year
Retail sales in November started to grow again after 20 months on a year-on-year basis.
Consumer prices in December: The end of high inflation
High inflation is slowly catching up. It should return to its usual low levels this year. Real wages will start to rise again and we will be able to focus on other issues instead of inflation. The Consumer Price Index fell by 0.4 per cent month-on-month in December. Year-on-year inflation fell to 6.9 per cent.
Unemployment in December: more unemployed than job vacancies
The share of unemployed in the population increased by 0.2 percentage point to 3.7% in December. This is the same level as in December 2022. 279 thousand jobseekers were registered at the labour offices, 16 thousand more than in November. The increase in unemployment in December is purely due to seasonal factors (seasonal layoffs in agriculture or construction). After seasonal adjustment, we estimate that the unemployment rate has been more or less flat at 3.6% all year 2023.
Foreign trade in November: year-on-year improvement of CZK 57 billion
The balance of foreign trade ended in a surplus of CZK 30.8 billion in November. This is a year-on-year improvement of a very respectable CZK 57.2 billion. Exports fell by 2.6% year-on-year, but imports fell by 15.4%. Exports increased by 1.4% month-on-month, while imports fell by 3.7%
Industry in November: declining production towards the end of the year
Unlike the previous month, industrial production showed a decline in November.