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
Post-election policy outlook: With change in the White House, what’s changing for US companies?
With Democrat Joe Biden projected to become the 46th US president, much of the election uncertainty has started to recede, improving business leaders’ optimism. News of COVID-19 vaccine breakthroughs has added to that sentiment, and more than 40% of senior executives surveyed by PwC say they’re more upbeat about business prospects in 2021 than they were before the election. Expectations that aspects of the Biden agenda will likely be moderated by a Republican or closely-divided Senate is also likely reassuring for business.
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%.
People all across the globe are experiencing the highs and lows of the current pandemic. Hopes are raised in different parts of our world that the situation is coming under control, only for them to be dashed yet again, with progress made turning into disappointment as we find ourselves hit by another yet more aggressive wave. To say that the imminent availability of a life-saving vaccine is a matter of hope is a massive understatement!
Strategic Directions for Czech Economic Policy
- 1) Transition to High-Tech Manufacturing
- 2) The City Campus as Idea Factory
- 3) Government Programs That Drive Innovation
- 4) Government as a Competitive Advantage
In Policy Pipeline policy developments in the Czech Republic and abroad are monitored to bring better understanding of current topics and trends.