Czech Republic

Czech manufacturing PMI continues to crash, worst performance since mid-2009

Nelly Tomchikova in Prague December 3, 2019

Czech manufacturing sector continued to crash in November, with IHS Manufacturing Purchasing Managers Index down to 43.5 from 45.0 in October, driven mainly by decreasing production and new orders.

Czech economic growth slowing, 2.5% growth y/y in 3Q19

Nelly Tomchikova in Prague December 2, 2019

Czech annual economic growth slowed to 2.5% year-on-year in 3Q19, up by 0.4% quarter-on-quarter, driven by both the domestic and external demand, down from a y/y growth of 2.7% in 2Q19, according to the statistics office

Number of Czech online banking users up by 266% in the last ten years

Nelly Tomchikova in Prague November 27, 2019

The number of Czech online banking users has soared by 266% compared to 2009, from 1.5mn, according to the Czech Statistics Office ́s (CSO) presentation from November 26. In the last five years, their number has increased by 1.8mn to 5.5mn, out of wh

Czech unemployment rate is the lowest in the EU in 2018

bne IntelliNews November 26, 2019

The Czech Republic recorded the lowest unemployment rate in the European Union in 2018, for the third consecutive year, at 2.2%, followed by Germany with 3.4% rate, according to data published by the Czech Statistics Office

Czech senator refers CEZ' sale of Varna TPP to Bulgaria’s prosecution

bne IntelliNews November 24, 2019

Lukas Wagenknecht has asked the prosecution in Bulgaria to probe the deal due to suspicions that it was intentionally closed at a price that was not beneficial for state-owned CEZ.

IIF: Game of loans, debt at record highs, climate concerns to drive up cost of borrowing further

Institute of International Finance November 22, 2019

​Without question, rising debt levels have supported global growth since the 2008 financial crisis. However, there are increasing questions about the marginal utility of further borrowing—and a lot of concern that a continued ramp-up in debt could sp

Czech economic growth to slow to 2.1% in 2020, according to OECD

Nelly Tomchikova in Prague November 22, 2019

The Czech economic growth is projected to slow to 2.1% in 2020 from 2.6% this year, driven mainly by falling household consumption and reduced government spending says the OECD

Czech government approved 7% digital tax for international companies

Nelly Tomchikova in Prague November 20, 2019

Big international companies such as Google, Facebook, Apple and Amazon are likely to be subject to a new digital tax in the Czech Republic in 2020. The government approved a proposal to introduce a 7% tax on online services.

Czech industrial producer prices' growth slowed to under 1% in October

bne IntelliNews November 19, 2019

The year-on-year growth of Czech producer price index of inflation (PPI) slowed to 0.9% in October from 1.9% in September

Czech economic growth slows to 2.5% in 3Q19

bne IntelliNews November 18, 2019

The Czech economic growth has slowed to 2.5% year-on-year and 0.3% quarter-on-quarter in 3Q19, most likely driven by household consumption, according to preliminary estimates released by the Czech Statistics Office (CSO) on November 14.

Czech CEZ’s Turkey-listed JV restructures $854mn loan with Yapi Kredi Bank

Akin Nazli in Belgrade November 12, 2019

Markets, meanwhile, draw breath as Erdogan prepares for November 13 White House meeting with Trump. Betting is that the two strongmen will reach an accommodation.

Moscow has the second highest road rage score in the world

Ben Aris in Berlin November 12, 2019

Mister Auto released a survey of which cities in the world are the best and worst to drive in that found Moscow has the second highest road rage index in the world, after only Ulaanbaatar.

Czech retail sales at 7.3% growth y/y in September

bne IntelliNews November 12, 2019

Non-adjusted Czech retail sales increased by 7.3% year-on-year in September from 3.7% in August. The month-on-month seasonally adjusted sales in retail trade went up by 0.7%, according to the Czech Statistics Office data published on November 7.

IIF: 2020 the climate super-year

Institute of International Finance November 11, 2019

The growing importance of environmental, social and governance (ESG) performance to investors (and ultimately to voters) is one of the most important forces shaping the new global economy. CO2 emissions must peak next year or we are in trouble.

30 YEARS OF TRANSITION: CEE makes enormous progress but held back by governance issues

Clare Nuttall in Glasgow November 9, 2019

If half of the governance gap between Central Europe and the G7 countries was closed, income convergence would be brought forward by almost a generation, says EBRD chief economist Beata Javorcik in an interview with bne IntelliNews.

30 YEARS OF TRANSITION: The East-West convergence in numbers

Clare Nuttall in Glasgow November 9, 2019

30 years after the fall of the Berlin Wall the new EU members haven’t yet caught up with Western Europe — but they are drawing level with the Southern European states that were battered by the international economic crisis.