According to the data of Czech Statistical Office the Czech economy grew in July by 8.6 % year-on-year and in comparison to 8.3 % in June. The main contribution was from the side of automotive industry where the production rose by 46.6 % year-on-year. Also the contracts grew in year-on-year comparison by 17.6 %. Contracts from abroad grew by 14 % and amount of domestic contracts grew by 24.7 %. Only the building industry was in year-on-year comparison by 3.7 % but this was caused by unusual July previous year when the rate of construction was high because of the flood damage. Also Czech trade balance remains active as it ended with 11.5 bn surplus. It was 6.6 bn more in year-on-year comparison. Export in July grew by 18.3 % year-on-year and import by 15.7 %. According to the data July was the most successful month for the exporters even though most of the trade surplus was thanks to machinery and automotive industry. According to the UniCredit economist Pavel Sobíšek the export of machinery could be negatively affected by the sanctions against Russia but the outlook for the upcoming months still looks slightly positive.
13th May 2019