Czech Republic Property News Wrap-up :: Weeks of May 3rd to 14th, 2010

Czech Point 101 December 9, 2014 @ 1:26PM

1. Survey: One-quarter of Czech firms plan to lay off staff
(http://praguemonitor.com/2010/05/06/survey-one-quarter-czech-firms-plan-lay-staff)

High-level overview of article:
Around one-quarter of companies in the Czech Republic plan to cut staff numbers, while 18 percent of businesses intend to raise the number of their employees, according to results of a survey carried out by the Confederation of Industry in April.

Our take:
So 25% are laying off and 18% hiring. Net effect should not be too bad.


2. Czech jobless dropped to 9.2% in April
(http://praguemonitor.com/2010/05/06/czech-jobles-dropped-92-april)

High-level overview of article:
Czech jobless rate fell to a level slightly above 9.2 percent in April from 9.7 percent in March, according to preliminary data of the Labour and Social Affairs Ministry, Minister Petr Simerka said Wednesday.

Our take:
Very good news and quicker, I think, than analysts predicted.


3. Analysts predict Czech annual inflation above 1% in April
(http://praguemonitor.com/2010/05/06/analysts-predict-czech-annual-inflation-above-1-april)

High-level overview of article:
Czech year-on-year inflation accelerated to 1.1-1.2 percent in April from 0.7 percent in March due to higher prices of food, gas for households and motor fuels, analysts polled by CTK said Wednesday.

Our take:
This is not strong enough to effect the exchange rate of the CZK very strongly.


4. Czech Central Bank Unexpectedly Cuts Rates to Record
(http://www.businessweek.com/news/2010-05-06/czech-central-bank-unexpectedly-cuts-rates-to-record-update2-.html)

High-level overview of article:
The Czech central bank unexpectedly lowered the benchmark interest rate by a quarter-point to a record low to help shelter an economy struggling to recover momentum from the impact of the Greek debt crisis.

Our take:
Wow, this is big. Will we see banks follow suit or will it only increase their profits?


5. ČNB expects crown to firm slightly to CZK 25.30/EUR this year
(http://praguemonitor.com/2010/05/07/%C4%8Dnb-expects-crown-firm-slightly-czk-2530eur-year)

High-level overview of article:
The latest forecast of the Czech National Bank (CNB) expects the crown to strengthen slightly to around Kc25.30 to the euro this year, while at the beginning of February the CNB expected it at Kc25.50 per euro, CNB Governor Zdenek Tuma said Thursday.

Our take:
About a 4% strengthening of the CZK. Good news for investors.


6. 50% of Czech Real Estate Transactions Outside of Agents – Try to Improve Image
(http://www.czechnewsdaily.com/post/591657834/real-estate-agents-concentrate-on-education)

High-level overview of article:
Realtors are trying to regain the trust of people who are selling or buying property. Roughly one half of the business is conducted without the assistance of real estate agents.

Our take:
Use our power of attorney sale service and you will get the best of both worlds.


7. Czech inflation in April higher than central bank’s estimate
(http://praguemonitor.com/2010/05/11/czech-inflation-april-higher-central-banks-estimate)

High-level overview of article:
Czech year-on-year inflation in March was 0.2 percentage point higher than the Czech National Bank (CNB) predicted in its latest forecast, Tomas Holub, head of the CNB’s monetary and statistical section, told CTK yesterday.

Our take:
Pretty close to estimates. No surprises here.


8. Czech GDP Grows on Annual Basis for First Time in Five Quarters
(http://www.businessweek.com/news/2010-05-12/czech-gdp-grows-on-annual-basis-for-first-time-in-five-quarters.html)

High-level overview of article:
The Czech economy grew on an annual basis in the first three months of the year for the first time in five quarters as a recovery in western Europe stimulated demand for its exports.

Our take:
Yahh! Good news. What are your thoughts on how the rest of 2010 will go?


Updated/Aktualizováno: ,

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