Economic policy | Council on Czech Competitiveness

Economic policy / Macroeconomic Indicators, Economic Growth

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

13th April 2021 / Economic policy / Macroeconomic Indicators, Economic Growth

Czech inflation begins creeping higher on fuel prices

Czech inflation increased from 2.1% in February to 2.3% in March, mainly on the back of higher fuel prices, which increased by 6%. For the whole year, we expect average inflation of around 2.5%

8th April 2021 / Economic policy / Macroeconomic Indicators, Economic Growth

Production is weakening due to stifling components subcontracting

Industrial production accelerated its decline in February, negatively surprising analyst estimates. Orders are growing, but there are missing components for production and partial shortages of manpower. The foreign trade surplus fell in line with weaker industry. Unsurprisingly, construction remains subdued.

8th April 2021 / Economic policy / Macroeconomic Indicators, Economic Growth

A mixed economic picture in the Czech Republic

Industrial production fell by 2.6% YoY in February amid weak production of cars due to reduced semiconductor chip supplies. Retail sales fell by 3% YoY, but given the pandemic restrictions, this was not too bad a result.