The Czech Statistical Office (CZSO) revised the GDP statistics for 4Q17. Qoq growth was adjusted to 0.8% (from originally 0.5%) and yoy to 5.5%. The all-year growth in 2017 thus reached 4.6%. The revision was made mainly on the back higher government expenditures compared with previous estimates. The investments were also revised slightly up, but the move was offset by a downward revision of inventories. Besides government consumption, growth in 4Q was driven by all items of domestic demand. External trade contributed slightly negatively. Private consumption and investment activity were the main growth drivers, contributing roughly 2pp each. The inventory built increased significantly and added another percentage point. On the supply side, we see two dominant drivers. The value added in industry increased 7.4% while private services grew 6.3%. These two components thus created a major part of the GDP dynamics. 

Prague Convention Bureau celebrates 10th anniversary this year. Over the last ten years, the Prague Convention Bureau has participated in acquiring more than 630 events with the attendance of almost 293,000 delegates. They have generated a total of 620 thousand roomnights worth more than 1.2 billion Czech crowns (€ 47.5 million).

At MONETA Money Bank, the fourth largest domestic bank with one million customers, we focus on sustainability to achieve long-term success and profitability.  

Czech firms find employee well-being to be of the greatest importance (92%). Nevertheless, only 57% of respondents believe that their firm is ready for it. These are the conclusions of Deloitte’s latest Global Human Capital Trends report. The survey included over 11,000 respondents across 124 countries worldwide, including the Czech Republic.