Czech Republic Property News Wrap-up :: Weeks of October 4 to 15, 2010

Czech Point 101 December 9, 2014 @ 11:53AM

1. Czech economy to grow by around 2% this year
(http://praguemonitor.com/2010/10/04/czech-economy-grow-around-2-year)

High-level overview of article:
Analysts polled by CTK agree the Czech economy will grow by around 2 percent this year but by around 1.7 percent next year mainly due to government austerity measures and developments abroad.

Our take:
This is significantly lower forecast on growth in 2011.


2. Czech GDP to grow by 2 pct this yr, 3 pct in 2011 –E&Y
(http://www.financninoviny.cz/english/zpravy/czech-gdp-to-grow-by-2-pct-this-yr-3-pct-in-2011-e-y/537615)

High-level overview of article:
Czech economy should grow by 2 percent this year and by nearly 3 percent in 2011, estimates of Ernst & Young (E&Y) CTK got in the consulting company´s press release today show.

Our take:
More optimistic than most analysts, as the report goes on to show.


3. Prague remains best place for business in central Europe
(http://praguemonitor.com/2010/10/05/prague-still-best-place-business-central-europe)

High-level overview of article:
Prague is still considered the best city for business in Central Europe, but it has been beaten by Warsaw as regards companies’ plans for further expansion, consulting company Cushman & Wakefield told CTK today.

Our take:
Great news but difference seems marginal and sounds like there are other factors, such as tax or other incentives, which push companies farther east.


4. Unemployment Falls to 8.4% in September
(http://praguemonitor.com/2010/10/07/unemployment-falls-84-september)

High-level overview of article:
Analysts polled by CTK estimated that unemployment in the Czech Republic fell to 8.4-8.5 percent in September, which is a drop of 0.1-0.2 percentage points against the previous month.

Our take:
Good news but more doom and gloom predicted for the future.


5. ‘Fantastic’ Czech Data May Not Prompt Quick Rate Increase
(http://www.businessweek.com/news/2010-10-07/-fantastic-czech-data-may-not-prompt-quick-rate-increase.html)

High-level overview of article:
Accelerating Czech industrial output may not prompt the central bank to increase interest rates this year as the government’s fiscal austerity measures help keep a lid on consumer demand and inflation.

Our take:
Seems to contradict the following article.


6. Interest Rate Hikes On Horizon
(http://praguepost.com/business/5935-interest-rate-hikes-on-horizon.html)

High-level overview of article:
Central banks stay course but some say change will come soon

Our take:


7. Czech Republic rides the German wave
(http://blogs.ft.com/beyond-brics/2010/10/11/czech-republic-growing-regional-tiger-hold/)

High-level overview of article:
The rising economic tide in Germany is lifting many central European boats – not least the Czech Republic, which is rebounding strongly in large measure thanks to exports to Germany.

Our take:
Don’t worry about the rising CZK as it seems to have a balancing effect by itself.


8. Czech Economy Could Grow by Almost 4 pct in Three Years
(http://www.financninoviny.cz/english/zpravy/czech-economy-could-grow-by-almost-4-pct-in-three-years/540523)

High-level overview of article:
The Czech economy could grow by almost 4 percent in 2013, the growth pace stopping at 3.9 percent, according to the medium-term state budget for 2012 and 2013 which the government has submitted to deputies together with the state budget draft.

Our take:
Great news and it just keeps getting better. Should be a buoy for the Czech property market.


Updated/Aktualizováno: ,

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