Czech Rep. Economic Outlook
September 3, 2019The economy kept pace in the second quarter, underpinned by resilient domestic demand and an improvement in the external sector. Household and government spending sustained the domestic economy, amid a tight labor market, while fixed investment fell notably, hit by souring economic conditions in the EU. Turning to the third quarter, activity seems to be softening, as suggested by the manufacturing PMI sinking deeper into negative territory in July amid falling output and new orders, and sentiment in the industrial sector remaining at a near six-year low in August. In politics, President Milos Zeman appointed a new culture minister on 27 August, ending a dispute which could have caused the government to collapse. The resolution came after the Social Democrats, the junior coalition member in Prime Minister Andrej Babis’ minority government, proposed an alternative candidate for the post.
Czech Republic Economic GrowthThe export-oriented economy is expected to lose steam this year as weakening EU demand, primarily from the key German industrial sector, and ongoing global trade conflicts weigh on the external sector. Solid household spending—buttressed by firm wage growth, upbeat consumer confidence and the tight labor market—should buffer the slowdown somewhat, however. FocusEconomics analysts expect growth of 2.6% in 2019, which is unchanged from last month’s forecast, and 2.4% in 2020.
Czech Republic Economy Data
5 years of Czech Republic economic forecasts for more than 30 economic indicators.
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Czech Republic Facts
|Bond Yield||1.07||-1.85 %||Sep 04|
|Exchange Rate||23.44||-0.66 %||Sep 04|
|Stock Market||1,028||-0.10 %||Sep 04|
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Czech Republic Economic News
September 10, 2019
Consumer prices increased 0.1% from the previous month in August, down from July’s 0.4% increase.
September 6, 2019
Industrial production rose a mild 0.1% in calendar-day adjusted, year-on-year terms in July, contrasting the sharp 3.4% downturn logged in June.
Czech Republic: Manufacturing PMI bounces back in August but remains entrenched in contractionary territory
September 2, 2019
The manufacturing Purchasing Managers’ Index (PMI), produced by IHS Markit, bounced back to 44.9 in August from 43.1 in July, which had marked the worst reading in over a decade.
August 30, 2019
The economy grew a seasonally-adjusted 2.7% year-on-year in the second quarter, matching both Q1’s reading and the preliminary release, according to a detailed breakdown of GDP released by Czech Republic’s Statistical Institute on 30 August.
August 26, 2019
The economic sentiment indicator, published by the Czech Statistical Office (CSO), climbed to 95.6 in August from 95.1 in July, which had marked the worst reading since October 2015.