Economic policy
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
Orders are growing but components for production are missing
In May, industrial production fell more than expected month-on-month after the previous expansion. The reason is the limited supply of production components. The year-on-year comparison is still strongly influenced by last year's slump. Weaker industrial production was also reflected in a reduction of the foreign trade surplus. On the other hand, construction grew slightly in May. From the financial market point of view, production data surprised negatively; however, this should not affect the expected further tightening of monetary policy.
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Inflation is still running faster
Inflation remained at higher levels in June, slightly above market estimates and the CNB forecast. The main reason for higher inflation is core prices excluding food and energy. Overall, the surprise is small and implies a continuation of the CNB's willingness to further tighten monetary policy in the near future.
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AmChams in the Three Seas Region 2021 Sofia Declaration: Joint Letter of Support and Collaboration with the Three Seas Initiative
AmChams support the regional development and cooperation within the Three Seas Initiative (the countries on the Baltic, Adriatic and the Black Sea axis) to foster economic growth, investment, energy security, smart connectivity, and achieving climate goals.
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