Czech Rep. Economic Outlook
November 27, 2018
Preliminary GDP data revealed that economic activity cooled slightly in Q3, with annual growth slowing to a near-two year low from an already relatively-weak showing in Q2. The third-quarter expansion was likely driven mainly by solid consumer spending, in which an overheated labor market and buoyant wage growth—partly stemming from public and private sector wage hikes—have propped up households’ disposable incomes. On the other hand, it seems that softer external demand, primarily from the Eurozone, dragged on the headline figure. Available data for Q4, however, hints at slightly more upbeat activity, with economic sentiment edging higher on average in October–November from Q3 due to improved business confidence. Meanwhile, on 23 November, the government survived a no-confidence vote tabled by the opposition over a fraud scandal implicating Prime Minister Andrej Babis thanks to the coalition junior partner’s abstention from the vote, which should reduce political uncertainty ahead.Czech Republic Economic Growth
Although the economy is expected to lose some momentum next year, growth is set to remain strong. Brisk wage gains, in part supported by a planned increase in the minimum wage in 2019, and an extremely-tight labor market will underpin healthy private consumption. This, coupled with strong fixed investment growth, should translate into upbeat domestic demand powering growth. Nevertheless, given the highly-open nature of the economy, a slowdown in external demand could dent export activity and weigh on overall industrial production. FocusEconomics Consensus Forecast panelists see GDP growing 3.0% in 2019, which is unchanged from last month’s projection, and 2.6% in 2020.Czech Republic Economy Data
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Czech Republic Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 2.02 | -1.85 % | Dec 12 |
| Exchange Rate | 22.80 | -0.66 % | Dec 12 |
| Stock Market | 1,031 | -0.10 % | Dec 12 |
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Czech Republic Economic News
Czech Republic: Inflation edges down to Central Bank’s target in November
December 10, 2018
Consumer prices declined 0.1% from the previous month in November, contrasting October’s 0.4% rise.
Czech Republic: Industrial production rebounds strongly in October
December 7, 2018
Industrial production jumped 6.7% year-on-year in October, rebounding from September’s 0.6% dip.
Czech Republic: Manufacturing PMI slips to an over two-year low in November
December 3, 2018
The manufacturing Purchasing Managers’ Index (PMI) produced by IHS Markit slipped from 52.5 in October to 51.8 in November, the fifth consecutive monthly fall and the lowest reading in over two years.
Czech Republic: Economic growth remains healthy in Q3
November 30, 2018
A detailed breakdown of GDP, released by the Statistical Institute on 30 November, revealed the economy maintained momentum in the third quarter.
Czech Republic: Economic sentiment slips in November
November 26, 2018
The economic sentiment indicator, a composite confidence indicator published by the Czech Statistical Office (CSO), dipped from 99.8 points in October to 99.3 in November.
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