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

30th July 2021 / Economic policy / Macroeconomic Indicators, Economic Growth

Outlook: EU Recovery Fund set to further strengthen CEE’s economic upswing

CEE economies expected to post GDP growth between 3.7% and 6.9% in 2021 EU Recovery Fund promises to boost GDP levels in 2026 by additional 0.7% to 2.9% Required structural reforms may trigger increased investment and co-financing Erste Group outlook: significantly higher full-year earnings expected in 2021  
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22nd July 2021 / Economic policy / Macroeconomic Indicators, Economic Growth

Orders are growing but components for production are missing

In May, industrial production fell more than expected month-on-month after the previous expansion. The reason is the limited supply of production components. The year-on-year comparison is still strongly influenced by last year's slump. Weaker industrial production was also reflected in a reduction of the foreign trade surplus. On the other hand, construction grew slightly in May. From the financial market point of view, production data surprised negatively; however, this should not affect the expected further tightening of monetary policy.
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16th July 2021 / Economic policy / Macroeconomic Indicators, Economic Growth

Inflation is still running faster

Inflation remained at higher levels in June, slightly above market estimates and the CNB forecast. The main reason for higher inflation is core prices excluding food and energy. Overall, the surprise is small and implies a continuation of the CNB's willingness to further tighten monetary policy in the near future.
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Members of the American Chamber of Commerce in the Czech Republic