1. Businesses welcome election result, hope for needed reforms
(http://praguemonitor.com/2010/05/31/businesses-welcome-election-result-hope-needed-reforms)
High-level overview of article:
Czech businesses have welcomed the results of the general election, hoping that the centre-right coalition government will carry out the necessary reforms of the pension and health care systems and stop the country’s debt growth, according to a CTK poll.
Our take:
Stability is good!
2. Inflow of FDI to Czech Republic falls by over half in 2009
(http://praguemonitor.com/2010/05/31/inflow-fdi-%C4%8Dr-falls-over-half-2009)
High-level overview of article:
The inflow of foreign direct investment to the Czech Republic fell to Kc52.2bn in 2009 from Kc110.1bn in 2008, the Industry and Trade Ministry has said.
Our take:
Not a good number to decrease but considering that most international businesses went into a ‘wait and see’ mode, this is still impressive.
3. FinMin: Economy will grow by 1.5% on average this yr
(http://praguemonitor.com/2010/05/31/finmin-economy-will-grow-15-average-yr)
High-level overview of article:
Czech economy will grow by 0.8 to 1.9 percent this year, which makes 1.5 percent on average, according to a regular survey the Finance Ministry has conducted among fifteen domestic institutions.
Our take:
We are all hoping for the upper end of the spectrum.
4. Analysts: Average wage up by 2-2.5% in Q1
(http://praguemonitor.com/2010/06/07/analysts-average-wage-2-25-q1)
High-level overview of article:
The average wage in the Czech Republic grew by 2 to 2.5 percent year-on-year in the first quarter of this year, according to estimates of most analysts polled by CTK Friday.
Our take:
Slow growth but it is growth and unemployment has been holding steady so this is positive.
5. Exports Fuel Czech Recovery, Falling Sales Signal Stable Rates
(http://www.businessweek.com/news/2010-06-07/exports-fuel-czech-recovery-falling-sales-signal-stable-rates.html)
High-level overview of article:
Rising Czech exports fueled an economic recovery in April and a drop in household spending showed a lack of inflationary pressure, signaling stable interest rates.
Our take:
Slow but steady.
6. Analysts: Unemployment in ČR falls below 9% in May
(http://praguemonitor.com/2010/06/08/analysts-unemployment-%C4%8Dr-falls-below-9-may)
High-level overview of article:
Unemployment in the Czech Republic continued to fall in May, and the number of job seekers registered at employment offices dropped below 9 percent from 9.2 percent in April, analysts have told CTK in a poll.
Our take:
This is very close to the EU average of 9.5% which was recorded in January 2010. Earlier pessimistic predictions of 10% + will probably not be seen.
7. Unemployment in Czech Republic down 0.5 pts to 8.7 pct in May
(http://www.financninoviny.cz/english/zpravy/unemployment-in-cr-down-0-5-pts-to-8-7-pct-in-may/488149)
High-level overview of article:
Unemployment in the Czech Republic decreased by 0.5 percentage point year-on-year to 8.7 percent in May, the Labour and Social Affairs Ministry announced today.
Our take:
Better than analysts expected in the article above!
8. Czech Economy, Prices Grow; Interest Rates May Follow
(http://www.businessweek.com/news/2010-06-09/czech-economy-prices-grow-interest-rates-may-follow-update2-.html)
High-level overview of article:
The Czech economy expanded on an annual basis in the first three months for the first time in five quarters, paving the way for the central bank to tighten policy in the second half of the year.
Our take:
Good progress in the first quarter.
9. Banks hike service fees
(http://praguepost.com/business/4697-banks-hike-service-fees.html)
High-level overview of article:
Several major banks are taking advantage of the slower summer months to institute higher user fees, including Komerční banka and Raiffeisenbank, which announced that clients would pay higher costs for their services from July and August, respectively.
Our take:
How does this story equate with this one: http://praguemonitor.com/2010/06/01/net-profit-banks-%C4%8Dr-grows-czk-138bn-q1 about net profit growing 16% overall in Q1 year over year? How long can they keep claiming possible defaults from the crisis for increasing their profits?
Updated/Aktualizováno: July 22, 2014,