Economic policy / Macroeconomic Indicators, Economic Growth

This section reports on economic policy initiatives of the Czech government, the EU, and other entities that have a direct impact on the competitiveness of the country. It also includes information on economic priorities of the AmCham and other leading associations.

Spotlight issue

21st June 2021 / Economic policy / Macroeconomic Indicators, Economic Growth

Key factors that will determine Czech recovery

How the Czech Republic will recover from the pandemic depends on how many moving parts work together. During our General Assembly session, members of the AmCham Board presented major factors that will influence businesses and recovery of the economy.
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16th September 2021 / Economic policy / Macroeconomic Indicators, Economic Growth

Inflation accelerates; CNB will fasten interest rate hikes

Inflation in August again surprised significantly upward above all expectations. Services are becoming more expensive, but price increases are running across the consumer basket. Rising inflation may be largely a temporary phenomenon, but fears of rising inflation expectations are likely to force the CNB to tighten monetary policy more quickly. At the end of September, we expect the CNB's key rate to increase 50 basis points to 1.25%.
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3rd September 2021 / Economic policy / Macroeconomic Indicators, Economic Growth

Wage growth was optically raised by comparison base

The average gross monthly wage increase 11.3% in nominal terms in the second quarter, and 8.2% in real terms. It thus exceeded our and market expectations. Conversely, the central bank, which expected nominal wage growth of 12%, may be satisfied with its estimate. However, wage developments were significantly affected by last year's low comparison base. After seasonal adjustment, wage growth reached only 1.2% in a qoq comparison, which can certainly not be considered rapid dynamics. In addition, the payment of extraordinary rewards in healthcare largely contributed. The median wage in the second quarter was CZK32,408.kom  
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Members of the American Chamber of Commerce in the Czech Republic