The adjusted annual growth in April owes to production expanding 14% y/y in the most-weighted manufacturing segment, compared to a growth of 7% y/y the preceding month.
The pick-up owes to the calendar effect, with sales spiking because of Easter but also to Polish households’ general inclination towards increased consumption, driven by the good situation on the labour market – low unemployment and growing wages.
The headline figure attests to the Polish industrial sector’s stubbornness to give in to negative trends in the external environment, especially the slowdown of activity in Germany, Poland's largest trading partner.
Budapest eased restrictions on the employment of non-EU citizens in an effort to manage the labour crunch.
Slovakia's economy will increase by 3.7% of GDP in 2Q19 and by 3.8% of GDP in 2019, according to May short-term economic forecast, published by the Budgetary Responsibility Council in its forecast from May 20, drawing attention to growth risks, inclu
GDP growth reached a 19-year high of 5.3%, with the industrial sector unfazed by a slowdown in eurozone economies or the strike at Audi's Gyor factory.
The Czech economic growth slowed to 2.5% year-on-year in the first quarter of this year from 2.6% in the 4Q18, affected mostly by lower external demand and household consumption
Slovakia´s inflation slowed to 2.3% year-on-year in April, down from 2.7% in March. Core inflation stood at 1.9% and net inflation at 1.6%, the Slovak Statistics Office reported on May 15.
The automotive sector, which has the largest weight in the industrial sector, boosted output by 12.8% y/y in March, the highest rate in two-and-a-half years.
Czech unemployment rate dropped to 2.7% in April from 3% in March, at its lowest level since June 1997, due to the continuing start of seasonal work, according to data by the Labour Office published on May 10.
The Czech IHS Manufacturing Purchasing Managers Index (PMI) dropped further to its lowest level since December 2012, to 46.6 in April from 47.3 in March, driven by a strong decline in client demand
The Czech National Bank (CNB) increased the two-week repo rate by 25 base points to 2% from 1.75%, the highest level since February 2009.
Czech capital Prague again posted the lowest unemployment rate in the European Union of 1.3% in 2018, followed by Czech South-West region, according to Eurostat data published on April 29.
Confidence in Czech economy increased very slightly by 0.1 point month-on-month in April to 97.1 from 97.0 in March