Economic policy

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.

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Spotlight issue

9th December 2020 / Economic policy / Macroeconomic Indicators, Economic Growth

Industry and exports are expanding despite the second wave of the pandemic

Although manufacturing slowed down in October, it has still been growing decently in the second pandemic wave, with strong support from foreign demand. November will probably be weaker but not dramatically. Consequently, foreign demand significantly boosted exports while imports remained weaker. Construction declined at the beginning of the fourth quarter.

4th December 2020 / Economic policy / Macroeconomic Indicators, Economic Growth

Czech wages surprise on the upside in the third quarter

Average wages accelerated by 5% in the third quarter after growing by just 0.6% in the previous quarter due to the Covid lockdown. Though a better than expected figure, a statistical effect may have played a role and optimism is fading amid a second wave of Covid-19

2nd December 2020 / Economic policy / Macroeconomic Indicators, Economic Growth

After a strong 6.9% recovery in 3Q, Czech GDP should fall again at year-end

The CZSO's refined estimate of Czech GDP published today brought a significant revision of the advance figures announced at the end of October. In the third quarter, the Czech economy grew by 6.9% qoq, which is 0.7pp more than originally estimated by the statistical office. The year-on-year decline thus eased from -10.9% in 2Q to -5.0%.