Six building societies (savings banks) of the Czech republic had attracted 447ths of new contractors till the end of April, that is approximately the same amount as in the last year. Total target amount of the contracts reached almost CZK 60bn including bonuses. Czech FinMin seems to be feared by last year’s growth as they have to find an additional finance for the state contribution. Thus, new parameters of building savings are being considered, for example prolongation of the savings cycle. But changes, if any, could be brought into effect first in next year.
Ceskoslovenska obchodni banka (CSOB) transferred to the Czech consolidation agency (CKA) its equity shares in three companies worth of CZK 2.165bn (book value) on Friday. CSOB has transferred to the CKA securities for CZK 17.425bn. Another CZK 40.7bn transferred were four packages of low-credit receivables.
Russia announced it would break its agreement with OPEC and refrain from its oil export reduction in next two months. Russia had promised before that it would reduce its export by 150 thousands of barrels a day from January till June. Immediately after the announcement oil prices fell by 20 cent.
Euro zone’s March industrial production increased by 0.5% and fell by 2.9% y/y. In the EU. the production decreased by 3.5% y/y.
U.S. consumer confidence measured by index of University of Michigan jumped to 96 points in May from 93 points in April.
Polish statistical office revised data on gross domestic product. Whereas the previous figures showed an increase by 1.1% in last year, the new data sees a jump by 1.0%.
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Radim Krejčí